Bitcoin Cash Price Analysis: BCH/USD Could Recover To $740

2018-8-6 07:08

Key Points Bitcoin cash price found support near the $684 level and started a recovery against the US Dollar. There was a break above a short-term bearish trend line with resistance at $705 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could continue to trade higher towards the next resistance at $740 in the near term.

Bitcoin cash price is slowly recovering above $700 against the US Dollar. BCH/USD may perhaps recover further towards the next hurdle at $740.

Bitcoin Cash Price Recovery

This past week, we saw heavy declines below the $750 support in bitcoin cash price against the US Dollar. The BCH/USD pair declined and broke the $720 and $700 support levels. It traded as low as $684 and later started an upside correction above $700. It broke the 23.6% Fib retracement level of the last decline from the $736 high to $684 low. It seems like the price moved into a short-term positive zone above $700.

During the rise, there was a break above a short-term bearish trend line with resistance at $705 on the hourly chart of the BCH/USD pair. At the moment, the price is trading near the $7220 resistance and the 100 hourly simple moving average. Moreover, the 61.8% Fib retracement level of the last decline from the $736 high to $684 low is at $716. Therefore, a break and close above the $720 resistance could open the doors for more gains.  The next major hurdle on the upside is near the last high at $736 and $740.

Looking at the chart, BCH price is slowly moving higher, but upsides may well be limited near the $735-740 zone. Above this, the price could trade above $750 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well above the 55 level.

Major Support Level – $700

Major Resistance Level – $740

The post Bitcoin Cash Price Analysis: BCH/USD Could Recover To $740 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin Cash (BCH) на Currencies.ru

$ 471.65 (+0.45%)
Объем 24H $266.112m
Изменеия 24h: 0.08 %, 7d: 0.58 %
Cегодня L: $463.08 - H: $474.86
Капитализация $9.3b Rank 16
Цена в час новости $ 697.08 (-32.34%)

could cash bitcoin usd bch price pair

Источник: newsbtc.com

could cash → Результатов: 63


Фото:

Why Iran Could Be The First Country To Adopt Bitcoin as Legal Tender

Many things happened from the time Bitcoin was conceived as a peer-to-peer electronic cash to the time someone dared to buy two pizzas giving it real monetary value, but it only took one person daring to accept its economic value for a revolution to take place raising its price from pennies to thousand dollars in […] The post Why Iran Could Be The First Country To Adopt Bitcoin as Legal Tender appeared first on Ethereum World News.

2018-7-26 19:57


Фото:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


Litecoin and Bitcoin Cash could Smoke as Robinhood decides to add them

The competition for who will be the leader in online cryptocurrency trading platform was increased as one of the major platforms Robinhood announced an update in its trading platform. Although the market presently is sluggish and many did not expect this to happen presently due to the bearish nature of the market, that they will […] The post Litecoin and Bitcoin Cash could Smoke as Robinhood decides to add them appeared first on ZyCrypto.

2018-7-13 22:23


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Satoshi’s Place Is the New Battleground for Bitcoin Core and Cash Supporters

There aren’t many things that bitcoin core and bitcoin cash supporters can agree on. If the two camps were a couple, they could reasonably be described as having irreconcilable differences. When Satoshi’s Place, a virtual graffiti wall powered by the Lightning Network (LN) sprang up, it was inevitable that the BTC and BCH factions would […] The post Satoshi’s Place Is the New Battleground for Bitcoin Core and Cash Supporters appeared first on Bitcoin News.

2018-6-13 22:40


Фото:

Jason Attar Takes Cryptocurrency to the Big Screen in New Mockumentary

Award-winning comedian, actor, writer and director Jason Attar is once again heading for the big screen with his new project KevCoin: The Movie. A follow-up to his previous film One Night in Powder, Attar will don the guise of his infamous character Kevin Powder — a rock star “fixer” who’s constantly trying to reinvent himself through wild schemes — and take on the world of digital finance as he seeks out fame and riches.

2018-6-11 22:31

дальше еще 14 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Spanish City Lebrija Launches Local Virtual Currency ‘Elio’

The city council of Lebrija has created a virtual currency ‘Elio’ that can only be used for payments made to small and medium businesses, according to a report by Diario de Sevilla. Read more: Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources

Bitcasino Announces XRP Support, Bringing Fast Transactions and Low Fees to the Game

Bitcoin Press Release: Leading bitcoin casino Bitcasino has added support for the third largest cryptocurrency XRP, allowing all platform users to bet with ripple.    16 April 2020 – The world’s first licensed Bitcoin-led casino operator, Bitcasino, now accepts Ripple payments, making XRP the next cryptocurrency to enjoy the casino’s wide range of games.