Bitcoin Cash Price Analysis: BCH/USD Could Recover Towards $500
(Source: newsbtc.com)

clicks | 7 days ago | Google AI sentiment 0.30 | comments: discuss | tags: bitcoin


Article preview (bot search)

(Original link: newsbtc.com)

Last updated Sep 14, 2018 Bitcoin Cash Price Analysis BCHUSD Could Recover Towards Share Key Points Bitcoin cash price started an upside correction and moved above the $450 resistance against the US Dollar. There was a break above this week’s followed key bearish trend line near $445 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair climbed above the $450 and $460 levels and it may continue to trade higher towards $500.
Bitcoin cash price recovered nicely from the $410 low against the US Dollar. BCH/USD is likely to recover further towards the $480 and $500 levels. Bitcoin Cash Price Recovery
Yesterday, we discussed how bitcoin cash price is struggling to break the $440 and $450 resistances against the US Dollar. Later, the BCH/USD pair managed to gain traction and moved above the $450 resistance. The upside move was strong as the price broke the 61.8% Fib retracement level of the last slide from the $478 high to $410 low. The price even settled above $450 and the 100 hourly simple moving average.
More importantly, there was a break above this week’s followed key bearish trend line near $445 on the hourly chart of the BCH/USD pair. The pair traded as high as $475 and it is currently correcting lower. It already tested the 23.6% Fib retracement level of the recent wave from the $410 low to $475 high. On the downside, there are many supports around the $450 level. The stated $450 level was a resistance earlier and now it could provide support along with the 100 hourly SMA. Below $450, the 50% Fib retracement level of the recent wave from the $410 low to $475 high is at $443....

Resources