Bitcoin Cash [BCH] Near Lows as Bitcoin Cash SV [BCHSV] Lists

2018-11-27 17:39

Bitcoin Cash has been trading near its 2018 lows for the past three days potentially setting up for a drop below. The fourth-ranked cryptocurrency by market cap formed 2018 lows around $150 on Sunday but has since formed two Doji daily candles.

A Doji candle is one where the open is around the same point as the close and typically shows some indecision in the market. Today’s price action is also forming the third consecutive Doji.

Bitcoin Cash Three Consecutive Doji Candles on Daily Chart – Source: Tradingview.com

This could be a sign that Bitcoin Cash is going to be following the general direction of the market and is waiting for more clear directional movements. The market conditions have recently been extremely bearish with the market leader Bitcoin trading near its 2018 lows.

The hourly chart for Bitcoin Cash shows resistance coming in to play around the 50 EMA and also $200. Many factors point towards Bitcoin Cash having more of a likelihood of moving down from here.

Bitcoin Cash Hourly Chart – Source: Tradingview.com

The controversial hard fork of Bitcoin Cash, Bitcoin Cash SV, has now been listed on CoinMarketCap. It is listed as the ninth largest cryptocurrency by market cap. The hard fork has resulted in key resources been taken away from Bitcoin Cash as a battle for hash power took place between the two separate cryptocurrencies. This battle likely played a big factor in the decline we seen in Bitcoin Cash with it trading at $630 around a week prior to the hard fork. Price currently trades around $175.

CoinMarketCap Listings Key Takeaways: Bitcoin forms three consecutive daily Doji candles showing indecision in the market. Bitcoin Cash will likely follow the market with both Bitcoin Cash and market leader Bitcoin trading near 2018 lows. Bitcoin Cash SV is now listed on CoinMarketCap and has likely played a big factor in the price decline seen in Bitcoin Cash after a battle for hash power took place. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin Cash [BCH] Near Lows as Bitcoin Cash SV [BCHSV] Lists was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Cashcoin (CASH) на Currencies.ru

$ 0.0004289 (+0.63%)
Объем 24H $2
Изменеия 24h: -19.83 %, 7d: -30.46 %
Cегодня L: $0.0004262 - H: $0.0005443
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Цена в час новости $ 0.0008839 (-51.48%)

bitcoin cash lows near 2018 around formed

Источник: blokt.com

bitcoin cash → Результатов: 126


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