Bitcoin Cash Resumes Uptrend as Buyers Push Price above the Breakout Level at $360


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

BCH/USD Price Long-term Trend: Bearish
Since February 15, BCH has been on a downward move. The coin has fallen to a low of $301 which is below the breakout level of $360. At this current support, BCH has fallen to the oversold region of the market. As buyers are likely to emerge, the downward move may be temporarily be put on hold. On the upside, BCH may reach a high of $400 or $440, if the current support at $320 holds. It is unlikely for the downward move to continue for now as buyers are likely to emerge.

BCH/USD – Daily Chart

Daily Chart Indicators Reading:
Bitcoin Cash is below 20% range of the daily stochastic. This implies that BCH is in the oversold region of the market. There are no sellers on hand to push the coin downward as selling has been overdone. We are waiting for the presence of buyers to push the coin upward. It also means BCH is in strong bearish momentum.

BCH/USD Medium-term Trend: Bearish
On the 4-Hour chart, the coin is falling in a descending channel. It fell to the low of $320 which incidentally led the coin fall into the oversold region. On the upside, buyers are likely to emerge to push the coin upward.

BCH/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Bitcoin Cash has fallen to level 41 of the Relative Strength Index. The coin was previously in the oversold region where buyers emerge to push the coin upward. The RSI also rises to level 41 approaching the uptrend zone.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash appears to have exhausted the bearish run for now. As buyers emerge from the oversold region, BCH upward move is guaranteed. Traders are to initiate long orders in anticipation of a bullish trend.

Bitcoin Cash Trade Signal
Instrument: BCH/USD
Order: Buy
Entry price: $323
Stop: $280
Target: 480

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.