Bitcoin Cash Price Analysis: BCH/USD Dips Remain Supported

Key Points

How an Ethereum Offshoot Became a Top 10 Cryptocurrency After an Abrupt 35% Rally
Friday January 17, 2020

The top ten cryptocurrencies by market cap represent the crème de la crème of the cryptocurrency space, and the altcoins listed alongside Bitcoin and Ethereum there are often considered some of the best and...

The post How an Ethereum Offshoot Became a Top 10 Cryptocurrency After an Abrupt 35% Rally appeared first on 12bitplay - Bitcoin Play.

Bitcoin cash price dipped recently, but it found support near $410 against the US Dollar.
There is a major bearish trend line in place with resistance near $440 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair needs to climb above the $450 hurdle for more gains in the near term.

This Analysis Suggests Bitcoin’s Price May Plunge 50% to the $3,000s, Again
Monday January 20, 2020

Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year. While many analysts have...

The post This Analysis Suggests Bitcoin’s Price May Plunge 50% to the $3,000s, Again appeared first on 12bitplay - Bitcoin Play.

Bitcoin cash price is trading above $400 against the US Dollar. BCH/USD is facing a couple of important resistances near $445 and $450 levels.
Bitcoin Cash Price Resistance
During the past few days, bitcoin cash price traded in a range above the $400 handle against the US Dollar. The BCH/USD pair tested the $400 and $410 support levels on a couple of occasions and remained well bid. There was a strong rise recently after the price formed a low at $408. The price jumped above the $425 and $430 levels, but sellers defended the $445 and $450 resistances.
There is also a major bearish trend line in place with resistance near $440 on the hourly chart of the BCH/USD pair. The pair corrected lower below the 23.6% Fib retracement level of the last wave from the $408 low to $442 high. It seems like the price may continue to move down towards the $425 level. It represents the 50% Fib retracement level of the last wave from the $408 low to $442 high. Below this, the price could test the $410 support in the near term. On the upside, the price has to break the $445, $450, and the 100 hourly SMA for more gains.

Watch Out, This New Bitcoin Scam Is All Over Youtube
Thursday January 16, 2020

Earlier today, I opened up my Youtube feed and saw a weird video in my recommended feed: it was titled something like “Binance CEO Does Bitcoin Giveaway,” or something similar in equally as broken...

The post Watch Out, This New Bitcoin Scam Is All Over Youtube appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, BCH price could continue to trade in a range above the $410 level. Once there is a proper close above $450 and the 100 hourly SMA, the price may perhaps rise towards $500.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is just around the 50 level.
Major Support Level – $410
Major Resistance Level – $450
The post Bitcoin Cash Price Analysis: BCH/USD Dips Remain Supported appeared first on NewsBTC.

You may also like...