Bitcoin Cash technical analysis: BCH/USD defies the crypto market, goes up by 5.71%

BCH/USD went up from $329.05 to $348.25 over this Tuesday.
BCH/USD has had a bullish breakout from a triangle formation.

BCH/USD daily chart

While the rest of the crypto market has seen red, BCH/USD has gone up from $329.05 to $348.25 this Tuesday. The latest candlestick is sandwiched between the 20-day simple moving average (SMA 20) and SMA 50 curves. The most recent candlestick has had a bullish breakout from the triangle formation. The moving average convergence/divergence (MACD) line was about to cross over with the signal line before it diverged away. This shows that bullish momentum was decreasing before it started increasing again.

BCH/USD 4-hour chart

The 4-hour price chart shows five straight bullish sessions, wherein the price went up from $329.20 to $348.25. The price is trending above the SMA 20, SMA 50 and SMA 200 curves. The SMA 20 curve has crossed over with the SMA 50 curve, which is a very bullish sign. The 20-day Bollinger jaw has narrowed slightly, which shows that market volatility is decreasing. The Elliot oscillator shows five straight bullish sessions of increasing intensity.

BCH/USD hourly chart

The hourly market has had a bullish breakout from the green Ichimoku cloud. The price is trending above the SMA 20, SMA 50 and SMA 200 curves. The relative strength index (RSI) indicator is trending around 67.15, right next to the overbought zone.

Key Levels

BCH/USD

Overview
Today last price	349.4099
Today Daily Change	20.3472
Today Daily Change %	6.18
Today daily open	329.0627

Trends
Daily SMA20	323.5532
Daily SMA50	355.3376
Daily SMA100	374.3579
Daily SMA200	278.9801

Levels
Previous Daily High	339.7426
Previous Daily Low	325.9675
Previous Weekly High	356.4503
Previous Weekly Low	307.9263
Previous Monthly High	428.8945
Previous Monthly Low	255.06
Daily Fibonacci 38.2%	331.2296
Daily Fibonacci 61.8%	334.4805
Daily Pivot Point S1	323.4393
Daily Pivot Point S2	317.8158
Daily Pivot Point S3	309.6641
Daily Pivot Point R1	337.2144
Daily Pivot Point R2	345.3661
Daily Pivot Point R3	350.9895

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