Bitcoin Cash Technical Analysis: BCH/USD within potentially deadly ascending channel
- Bitcoin Cash price on Friday trading in minor positive of just some 0.90% in the second half of the session.
- BCH/USD price action moving within a rising channel formation, observed via the daily chart view.
- In terms of news flow, Thailand’s SEC Actually removed Bitcoin Cash (BCH), Litecoin (LTC) And Ethereum Classic (ETC) From Crypto’s Eligible For ICO Fundraising. The regulatory body will only allow; Bitcoin (BTC), Ethereum (ETC), Ripple (XRP) and Stellar (XLM). Detailing that no cryptocurrency, even those on their approved list, are certified as legal tender in the country.
Spot rate: 130.63
Relative change: +0.90%
High: 131.73
Low: 129.06
Trend: Neutral
Trends:
Daily SMA20: 130.6954
Daily SMA50: 127.4616
Daily SMA100: 143.0479
Daily SMA200: 321.7172
Levels:
Previous Daily High: 132.7187
Previous Daily Low: 127.7779
Previous Weekly High: 150.0785
Previous Weekly Low: 119.129
Previous Monthly High: 156.9334
Previous Monthly Low: 109.9144
Daily Fibonacci 38.2%: 129.6653
Daily Fibonacci 61.8%: 130.8313
Daily Pivot Point S1: 127.2324
Daily Pivot Point S2: 125.0348
Daily Pivot Point S3: 122.2917
Daily Pivot Point R1: 132.1731
Daily Pivot Point R2: 134.9163
Daily Pivot Point R3: 137.1139
BCH/USD 60-minute chart
BCH/USD via the 60-minute chart view is moving within a bearish flag formation, subject to moves north.
BCH/USD daily chart
Price action moving within an ascending channel formation, subject to a potential breakout to the downside.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
