Bitcoin Cash Price Weekly Analysis: BCH/USD Sell on Rallies Near $470

Key Points

Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600
Monday August 19, 2019

Bitcoin price rebounded recently and climbed above the $10,200 resistance against the US Dollar. The price is currently trading nicely above $10,300, but facing hurdles near $10,500 and $10,600. There is a connecting bullish...

The post Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600 appeared first on 12bitplay - Bitcoin Play.

Bitcoin cash price found support near the $420 level and later recovered against the US Dollar.
There is a key bearish trend line formed with resistance at $470 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
The pair is likely to face a lot of selling interest near the $470 and $500 levels in the near term.

Ethereum Price Has Best Risk-Reward Ratio Ever: Crypto Venture Capitalist
Wednesday August 21, 2019

Ethereum hasn’t done too well over the past year. Since peaking at $1,400 and nearly “flipping” Bitcoin, the cryptocurrency has embarked on a steep downtrend, shedding a large majority of its value as demand...

The post Ethereum Price Has Best Risk-Reward Ratio Ever: Crypto Venture Capitalist appeared first on 12bitplay - Bitcoin Play.

Bitcoin cash price is under pressure below $500 against the US Dollar. BCH/USD remains sell on rallies near the $470 and $480 levels.
Bitcoin Cash Price Analysis
This past week, we saw a major downside move below the $520 and $500 supports in bitcoin cash price against the US Dollar. The BCH/USD pair declined heavily and broke the $450 support. There was also a close below the $450 level and the 100 simple moving average (4-hours). It traded close to the $400-410 support area and formed a low at $421. Later, the price started an upside correction and moved above the $430 level.
At present, the price is testing the 23.6% Fib retracement level of the last decline from the $531 high to $421 low. If there is a break above the $450 and $455 resistance levels, the price may climb towards the next important hurdle at $470-475. There is also a key bearish trend line formed with resistance at $470 on the 4-hours chart of the BCH/USD pair. Moreover, the 50% Fib retracement level of the last decline from the $531 high to $421 low is also positioned near the $476 level. Therefore, sellers are likely to appear near $470-475 if the price continues to climb higher.

Blockchain for Art: DLT Makes Inroads into the Art Industry
Thursday August 22, 2019

Art is no longer a medium of expression of ideas, thoughts, feelings or portraying the injustice and inequality. It has transformed into a medium of investment. The right artwork associated with the right artist...

The post Blockchain for Art: DLT Makes Inroads into the Art Industry appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, BCH price may perhaps hold the $400 support area for some time and it could correct towards $470-475.
Looking at the technical indicators:
4-hours MACD – The MACD for BCH/USD is slightly in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is recovering above the 30 level.
Major Support Level – $420
Major Resistance Level – $470
The post Bitcoin Cash Price Weekly Analysis: BCH/USD Sell on Rallies Near $470 appeared first on NewsBTC.

You may also like...