• Home
  • Trading
  • Live Data
  • Events
Home Trading Bitcoin Cash Price Analysis BCH / USD: Battling The Resistance

Shutterstock

Bitcoin Cash Price Analysis BCH / USD: Battling The Resistance

BCH is attempting to move above the $360 level.

-

  • Bitcoin Cash has a bullish short-term bias, with the BCH / USD pair advancing above its 200-period moving average on the four-hour time frame
  • The four-hour time frame depicts a failed attempt to break above an ascending triangle pattern
  • The daily time frame highlights that the BCH / USD pair is trading within a confluence of major technical resistance

Bitcoin Cash / USD Short-term price analysis

Bitcoin Cash has a bullish short-term trading bias, with the BCH / USD pair continuing to rally above its 200-period moving average on the four-hour time frame.

The four-hour time frame shows that buyers are failing to break above an ascending triangle pattern. The mentioned time frame shows that the $360.00 to $335.00 price range remains critical.

Technical indicators on the four-hour time frame are bullish, although they are now overbought.

SIMETRI Research

 

BCH H4 Chart August 14 by TradingView
BCH / USD H4 Chart by TradingView

                                                                                

Pattern Watch

Traders should note that a bullish breakout from the ascending triangle pattern may spark a rally towards the $380.00 level.

Relative Strength Index

The RSI indicator on the four-hour time is bullish, although it has reached overbought territory.

MACD Indicator

The MACD indicator on the four-hour time frame remains bullish and continues to issue a buy signal.


Bitcoin Cash / USD Medium-term price analysis

Bitcoin Cash has a bullish medium-term trading outlook, with the BCH / USD pair gaining strength above its key 200-day moving average.

The daily time frame is showing that buyers are struggling to move price above a major confluence of technical resistance around the $360.00 level.

Technical indicators across the daily time frame are bullish and continue to rise.

 

BCH Daily Chart August 14 by TradingView
BCH / USD Daily Chart by TradingView

 

Pattern Watch

Traders should note that the BCH / USD pair is also struggling to move above the neckline of a bearish head and shoulders pattern on the daily time frame.

Relative Strength Index

The RSI indicator on the daily time frame is rising and shows scope for further upside.

MACD Indicator

The MACD indicator on the daily time frame has turned bullish and continues to issue a buy signal.


Conclusion

Bitcoin Cash continues to edge higher and is currently facing a major hurdle from a confluence of strong technical resistance around the $360.00 level.

Failure to overcome the $360.00 level should provoke a move towards the $335.00 level, while a bullish breakout supports a move towards at least the $380.00 level.

 

Stay up-up-to-date with our live BlockTV feed!
They even took out the ads, to show their support for our cause!



Check out our coin guide for Bitcoin Cash.

Bitcoin Cash Chart

 

DISCLOSURE

Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

Avatar
The Analyst Team
Crypto Briefing has become known for providing thoughtful and insightful diligence on early-stage blockchain ventures. Our reports are distributed globally, including via Binance Info. Almost 100 free, unpaid, and independent Digital Asset Reports and Evaluations and early-stage crypto assessments are available by clicking on the CB icon, right here.

JOIN OUR COMMUNITY!

Join the conversation on Telegram and Twitter!

8,427FollowersFollow
1,342SubscribersSubscribe

More News & Analysis

Get The Best Of Crypto Briefing!

Crypto news flashes, new DARE research, upcoming mainnet launches, market reports, and much more!

X
X