Key Points
- Bitcoin cash price declined further and broke the $470 and $460 support levels against the US Dollar.
- Yesterday’s highlighted contracting triangle with support at $486 was breached on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair is following a bearish path and it could continue to move down towards $450 and $440.
Bitcoin cash price is under pressure below $480 against the US Dollar. BCH/USD could decline further towards the next major support at $440.
Bitcoin Cash Price Analysis
Yesterday, there was a short-term bearish reaction from the $500 swing high in bitcoin cash price against the US Dollar. The BCH/USD pair started a downside correction and declined below the $480 support. It opened the doors for more losses and the price cleared the $470 and $460 support levels. Moreover, there was a close below the $480 level and the 100 hourly simple moving average.
The price declined below the 50% Fib retracement level of the last wave from the $407 low to $510 high. More importantly, yesterday’s highlighted contracting triangle with support at $486 was breached on the hourly chart of the BCH/USD pair. Therefore, there are chances of more downsides in the short term towards $450 and $440. An intermediate support is the 61.8% Fib retracement level of the last wave from the $407 low to $510 high at $447. The most important support on the downside is near the $440 level, which was a resistance earlier.
Looking at the chart, BCH price is placed below a bearish trend line with resistance at $470 on the same chart. A proper bounce and break above $470 and $480 is needed for a recovery. On the upside, the main resistance is at $500.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is now placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well below the 50 level.
Major Support Level – $440
Major Resistance Level – $480
Author: Aayush Jindal
Source link
R.rouge 愛美肌 【舒敏防禦系列】7 Days+乳油木果舒敏防禦微安瓶的商品介紹 R.rouge 愛美肌,舒敏防禦系列,7 Days+乳油木果舒敏防禦微安瓶
A simple question over a cup of coffee is all it took to convince Tom Huddlestone to join Steve Bruce’s revolution at Hull. Just one question over coffee helped Bruce seal Huddlestone deal
Striker Benjani Mwaruwari sent Manchester City into the FA Cup fourth round with a narrow victory at Middlesbrough. It was a third straight win for new boss Roberto Mancini. Middlesbrough 0 Man City 1: Benjani strikes to give new boss Roberto Mancini third win in a week
… [Trackback]
[…] Find More Info here to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Read More Info here to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Find More to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Find More on to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Here you will find 6850 more Information on that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Find More on to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Info on that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Info to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Here you can find 45230 more Info to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Find More Information here to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Here you will find 25039 additional Information to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]
… [Trackback]
[…] Read More to that Topic: tradingbtc.com/2018/09/25/bitcoin-cash-price-analysis-bch-usd-extending-downside-correction/ […]