Bitcoin Cash Makes an Upward Move as Bulls Buy at Lower Levels of the Market


Key Resistance Levels: $275, $300, $350
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Bearish
On March 16, BCH fell to the low of $164 and the bulls buy at the lower levels of the market. The coin made an upward move as a result of the purchase. BCH has risen to $191 and it is approaching the high of $200. On the upside, if the bulls break the resistance at $200, the market will rise to a high of $265. Presently, BCH is trading at $191 as at the time of writing. BCH may fall to a low of $169 if it fails to break the $200 resistance.

BCH/USD – Daily Chart

Daily Chart Indicators Reading:
Currently, BCH is rising as it is above 20% range of the daily stochastic. This indicates that Bitcoin cash is in bullish momentum. The coin was previously in an oversold region. The bulls are emerging as the coin makes an upward move.

BCH/USD Medium-term Trend: Bearish
On the 4-Hour chart, BCH is in a descending channel. On March 12, BCH fell to the low of $141 and resume a range-bound movement. The coin is currently approaching the high of $200.

BCH/USD – 4 Hour Chart

4-hour Chart Indicators Reading
BCH has risen to level 56 of the daily Relative Strength Index period 14. BCH is above the centerline 50 which means that it is in an uptrend zone. BCH is currently rising, and if it breaks the resistance line of the descending channel and closes above, it is an indication of an uptrend.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash is currently trading above $160. The bulls buy at a lower level on March 16, compelling BCH to rise to the previous highs. However, the actual test comes as it faces the resistance at $200. The upward movement will continue if it breaks above $200 resistance. Conversely, it may fall if the bulls fail to break above it.

Bitcoin Cash Trade Signal
Instrument: BCH/USD
Order: Sell
Entry price: $191
Stop: $240
Target: $120

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.