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Bitcoin Cash

Bitcoin Cash Technical Analysis: BCH/USD sitting on critical weekly support a breach is eyed

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  • Bitcoin Cash price is trading in the green, with gains of 2.10% in the second half of the session.
  • BCH/USD is sitting on critical weekly support at $208, ahead of of psychological $200 mark. 
  • Price action is moving within consolidation mode, vulnerable to further downside risks. 

BCH/USD weekly chart

The price is running at its second consecutive week in the red, trading just above vital support at $208. 

BCH/USD daily chart

Daily trading conditions remain very much narrow, which has been the case since 23 November. An explosive breakout does appear to be imminent. 

Spot rate:                 211.11

Relative change:      +2.10%

High:                          209.10

Low:                      

    206.00

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Source: fxstreet

Bitcoin Cash

Bitcoin Cash Price Analysis: BCH/USD nurtures momentum above $340, all eyes focus on $400

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  • Bitcoin Cash bounces off the trendline support for the second time in one week.
  • Sideways trading is likely based on the ranging RSI.

The bulls are back in action on Sunday after wallowing in selling pressure on Saturday. The majority of the major cryptos are in the green posting gains between 1% and 10% on the day. Bitcoin Cash is dancing 4% higher on the day following a bullish correction from $339.38 (opening value). The fourth-largest cryptocurrency grew exponentially towards $400 but formed a high around $365 before adjusting to $351 (market value).

Last week, Bitcoin Cash was flipped from the fourth spot on the market by its controversial Bitcoin SV. The

latter surged massively to highs around $458 while Bitcoin Cash only managed to hit highs around $403. BSV market cap also corrected higher surpassing that of BCH. However, Bitcoin Cash has since reclaimed its position amid an ongoing Bitcoin SV sell-off.

Read more: Bitcoin SV plunges 42% from 2020 highs: Lawyer reveals Craig Wright has no private keys

At the time of writing, BCH is struggling to hold above $350 and push past the next resistance at $360. The bulls would like nothing more than to see the price back above $400. However, the sideways trending RSI suggests that rapid movements either side are unlikely in the short term. Therefore, I am more inclined to believe that BCH would hold above $350 while the upside capped at $360 in the near term until a proper technical picture develops.

BCH/USD 4-hour chart

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Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on January 18, 2020

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 336. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on January 18, 2020

As part of the Bitcoin Cash forecast, a test of level 320 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 405. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 278.

Bitcoin Cash (BCH/USD) forecast and analysis on January 18, 2020

Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower 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 below the area of ​​270. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper 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 January 18, 2020 implies a test level of 320. Further growth is expected to continue to the area above level 405. The conservative buying area is located near area 278. The breakdown of the growth option for cryptocurrency will be the breakdown of level 270. In this case, we should expect a further fall.

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Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on January 15, 2020

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 280. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish 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 January 15, 2020

As part of the Bitcoin Cash forecast, a test of level 268 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 308. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 258.

Bitcoin Cash (BCH/USD) forecast and analysis on January 15, 2020

Cancellation

of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower 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 below the area of ​​240. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper 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 January 15, 2020 implies a test level of 268. Further growth is expected to continue to the area above level 308. The conservative buying area is located near area 258. The breakdown of the growth option for cryptocurrency will be a breakdown of the level of 240. In this case, we should expect a further fall.

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