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Bitcoin Cash

Bitcoin Cash price prediction: Can the bulls takeover following a bearish Monday?

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  • BCH/USD fell from $338.50 to $329 this Monday. Currently, it is priced at $328.55.
  • The daily confluence detector shows two strong resistance levels on the upside.

Bitcoin Cash has had a bearish start to Tuesday, following a bearish Monday. This Monday, the price fell from $338.50 to $329. Currently, it is priced at $328.55. The hourly price chart shows that the price initially plunged to $329.65 before the bulls took it back up to $333.45. Following that, the bears took the price down to $329.

BCH/USD daily confluence detector

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The daily confluence detector shows us two healthy resistance levels on the upside. $332-level has the 50-day simple moving average (SMA 50), SMA 5, 1-day Fibonacci 38,2% retracement level, 1-hour Bollinger band middle curve, 1-hour previous high and 15-min Bollinger band upper curve. $339-level has the 1-week Fibonacci 61.8% retracement level.

Source:.fxstreet

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Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on August 20, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 316. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on August 20, 2019

As part of the Bitcoin Cash forecast, a test of level 322 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 295. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 325.

Bitcoin Cash (BCH/USD) forecast and analysis on August 20, 2019

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of ​​the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​330. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on August 20, 2019 implies a test level of 322. Further, it is expected to continue falling to the area below the level of 295. The conservative area for selling Bitcoin Cash is located area of 325. Canceling the option of falling cryptocurrency will be a breakdown of the level of 330. In this case, we can expect continuation growth.

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Bitcoin Cash

Bitcoin Cash market overview: BCH/USD lethargic bullish momentum stalls at 61.8% Fib level

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  • Bitcoin Cash remains bulls despite the confrontation at $330 resistance.
  • Several support areas are ready to prevent declines from paralyzing the bulls.

Bitcoin Cash failure to break above $360 during the trading sessions last week. This left a gap that the bears wasted no time exploring. BCH/USD bearish action trimmed the gains first below the moving averages. The tentative support around the 38.2% Fib retracement level taken between the last drop from a high of $358.16 to a low of $267.35 close to $300.

The negative volatility surged sending Bitcoin Cash briefly under $270. A low established at $267.35 allowed the rebound above $300. The battle to break the resistance at $330 is yet to be won. Instead, Bitcoin Cash is trading sideways in a narrow range between the confluence created by the 50% Fib level and the 50 Simple Moving Average (SMA) and $330 hurdle.

Several support areas are ready to prevent declines from paralyzing the bulls. They start from the above-mentioned confluence, $310, $300 and $290.

The trend is still inclined to the positive despite the inability to break above $330. The full stochastic oscillator brushed shoulders with 70. However, a possible retreat is likely to signal a reversal.

BCH/USD 1-hour chart

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Bitcoin Cash Price Analysis: BCH Records 9% Downtrend in 7 days Trading Below $310

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  • BCH may go bullish to climb upto $350 again in the next 2 weeks
  • BCH may close today at $310 or above

The last 7 days have been a bumpy ride for the BCH token holders especially when the coin slumped steeply from $357 to $276. But, this may change soon and it may rise upto $350 again in the next 2 weeks of this month. The current market statistics also indicate a surging trend ahead when the coin may also cross $350 value for a brief moment.

BCH to USD Price Statistics:

In the last 7 days, BCH token has recorded a downtrend of over 9% dipping from $336.42 to its current value at $306.08 as on August 18, 2019, at 08:27:09 UTC. The coin started climbing up in the beginning and surged up to $357.49, but then it dropped almost steeply to reach as low as $276.22 around August 15. BCH has picked up some pace since then and may cross $310 soon.

Bitcoin Cash price chart August 18
  • The price of BCH token is now $306.08 and 0.03015062 BTC
  • The market cap has reached $5,495,593,966
  • The ROI of the coin stands at -44.94%
  • The circulating supply is now 17,953,788 BCH

The lowest recorded value of BCH token yesterday was $301 and it is already much above this value today. The coin seems to be headed in an upward direction and may take its traders on a sudden upward surge by climbing up to $310 soon.

Bitcoin Cash Price Prediction:

The highest recorded value of Bitcoin Cash in the last 90-days was $522 and in the last 30 days, it was $353. The coin may cross $350 by the end of this month and may start trading between $350 and $500 in the next 2 months. It is only a matter of time for BCH token to gain mass adoption, which may further push this crypto towards rising trends.

Conclusion:

This can be regarded as a good phase to plan long term bulk investments in the BCH token and save for future benefits.

Source.cryptonewsz.


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