Bitcoin Cash Price Watch | BCH/USD Heads For Upside Break

0
87


[ccpw id=”6606″]

Key Highlights:

  • Bitcoin Cash price held steady for the past few days, trading in the $1,050-1,150 range throughout most of the week.

  • BCH/USD is heading for an upside break, now on a bullish trend line testing a major resistance of $1,125.

  • A major support level has been established at $1,080.

BCH/USD Heading For Upside Break

For the past week, Bitcoin Cash remained steady as price volatility began to decrease. BCH/USD mostly stayed between the $1,050-1,150 range, though it did surpass the $1,200 level briefly earlier this week.

At the moment, BCH/USD is heading for an upside break. A bullish trend line has formed to test a major resistance point of $1,125. A break above the resistance could propel the cryptocurrency further up toward $1,200 once again. The next pivot level for this upward action is $1,130.

A downward correction could also happen, which might take BCH/USD down to its current support level of $1,080. A break below that could send its price to a retracement level of $1,025.

Bitcoin Cash Price Watch

Source: Tradingview

Looking at the technicals chart, the MACD crossover means that BCH/USD is on a bullish run. The RSI indicator shows Bitcoin Cash is neither in overbought or oversold territory.

Looking at the Technical Indicators:

  • Hourly MACD — Bullish signal

  • Hourly RSI — Neutral signal

  • Major Resistance Level — $1,125

  • Major Support Level — $1,080

Featured Image: Twitter

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘447469122301599’);
fbq(‘track’, ‘PageView’);

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘track’, ‘PageView’);

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Original Source