Bitcoin cash technical analysis: BCH/USD re-enters $400, forms a morning star pattern

BCH/USD is currently priced at $406.
The SMA 20 and SMA 50 curves are trending above the daily price chart.

BCH/USD daily chart

The three latest sessions of the BCH/USD price chart has formed a morning star pattern, which is a bullish sign. It is trending below the 20-day simple moving average (SMA 20) and SMA 50 curves and above the SMA 200 curve. The relative strength index (RSI) indicator is trending around 50 in the neutral zone.

BCH/USD 4-hour chart

The 4-hour BCH/USD is trending below the green Ichimoku cloud. The 4-hour market found support on the $400-level and needs to next negotiate with the $410 resistance level. The Elliot oscillator has had three straight bullish sessions, following six consecutive bearish sessions.

BCH/USD hourly chart

The hourly BCH/USD is trending in the upper-half of the 20-day Bollinger band. The Bollinger jaw is also narrowing, which shows decreasing market volatility. The two latest price sessions are trending in a flag formation, getting primed for a breakout. The hourly market is below the SMA 200 and SMA 50 curves, while it is above the SMA 20 curve. The moving average convergence/divergence (MACD) indicator has had 16 straight bullish sessions of increasing intensity.

Key Levels

BCH/USD

Overview
Today last price	405.2876
Today Daily Change	5.2380
Today Daily Change %	1.31
Today daily open	400.0496

Trends
Daily SMA20	433.0919
Daily SMA50	418.7206
Daily SMA100	349.7955
Daily SMA200	243.2988

Levels
Previous Daily High	410.58
Previous Daily Low	390.7258
Previous Weekly High	449.2051
Previous Weekly Low	380.4645
Previous Monthly High	516.9074
Previous Monthly Low	362.9877
Daily Fibonacci 38.2%	402.9957
Daily Fibonacci 61.8%	398.3101
Daily Pivot Point S1	390.3235
Daily Pivot Point S2	380.5975
Daily Pivot Point S3	370.4693
Daily Pivot Point R1	410.1778
Daily Pivot Point R2	420.306
Daily Pivot Point R3	430.032

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