Ken Chigbo
Independent Analyst
- 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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
ALT, WLD, ENA, ID set for $200 million token unlocks next week
The circulating supply of ALT, WLD and ID will see a hike next week, with over $200 million unlocks in sight. All tokens involved in upcoming unlocks are up in the past 24 hours. ALT will see the highest unlock share, with $115 million worth of new tokens entering circulation.
Why these altcoins may not rise despite Ethereum ETF impact
Altcoins market cap against Ethereum has been on a multi-year decline. Ethereum has outperformed several altcoins despite wider market assumptions that they provide leveraged exposure to its price. 2x long ETH could yield better results than purchasing altcoins ahead of the Ethereum ETF launch, said analyst.
Institutions anticipate potential Tuesday Ethereum ETF launch after making strategic moves
Grayscale lowered its Ethereum Mini Trust fees to 0.15% in a bid to reduce potential outflows from ETHE when ETH ETFs go live. Galaxy Digital increased its staked Ethereum assets to $3.3 billion after acquiring CryptoManufaktur, reveals CoinDesk.
Binance to begin investing customer fiat funds in US Treasuries
Binance received court approval on Friday, allowing it to invest certain customers' fiat funds in US Treasury bills. Following the announcement, the BNB token saw a 5% rise as crypto community members debated the potential impact of this approval on Ethena's USDe token.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.