Bitcoin Cash Price Analysis: BCH/USD Trends of November 7–13, 2018

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Bitcoin Cash Price Analysis: BCH/USD Trends of November 7–13, 2018

Confirmation to the bulls’ takeover was seen as the next daily candle closed as bullish engulfing above the two EMAs.

Bitcoin Cash Price Analysis: BCH/USD Trends of November 7–13, 2018

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BCH/USD Bitcoin Cash Price Analysis: BCH Stable at $7.76 billion

Overly, the market is flat and the lack of solid price movement after Oct 15 could hint at a lower level price accumulation and potential BCH bulls as long as trend above $400. Rallies above $550 and $600 could lead to surges towards $850, our first ideal bull target.
Latest Bitcoin Cash News
Aside from being a peer to peer electronic cash payment system that executes according to the dicta of Satoshi Nakamoto, Bitcoin Cash allows developers to build application on top of its blockchain. Many dApps are now live but the recent beta form launch of Hivr, a social media dApp complete with an inbuilt wallet and a native tipping tool seem to be revolutionary. At the moment, the dApp is limited to Android devices but developers plan to build the iOS version once Hivr comes out of beta.
At the moment, users can post for free onto their social news feed, chat and even tip content creators with BCH. Other dApps as Block Press for example offer limited feature as instant messaging but the creators of Hivr say they are rolling out an application that wraps up all the wonderful features found in the Bitcoin Cash community for free. Because of this, users can create post for free and enjoy a feature rich social platform that is intuitive and easy to use.

In the meantime, the CEO of Binance Zhao Changpeng responded to queries on why the world’s largest cryptocurrency exchange by trading volume is yet to change the Bitcoin Cash ticker symbol from BCC to the BCH like other exchanges. In his response Zhao said BCC and BCH are both acceptable but most tend to settle for BCH. He went on and said the exchange has no plans of changing the symbol to BCH.
Bitcoin Cash (BCH/USD) Price Analysis
Weekly Chart

On to the charts and BCH is technically bearish and struggling to stay afloat under immense bear pressure. Even though most traders are upbeat and looking forward for prices to recover now that BCH is trading 90 percent from 2017 peaks, the lack of follow through after last week’s bullish attempt mean our last Bitcoin Cash trade plan is valid as traders maintain a neutral to bearish outlook.
Previously, we had said for bulls to flourish and at least reverse this year’s losses then we had to see rallies above $600 triggering bulls who in turn should eye $850 or higher. However, none of our trade conditions is live. Furthermore, what we have is a consolidation in lower time frames as BCH prices oscillate inside Sep high low.
Therefore, unless otherwise, bears are in charge and it could get worse if prices sink below Sep 2018 lows at $400 as it could herald a new bear phase with first targets at $250 in line with our last Bitcoin Cash price analysis.
Daily Chart

On to the daily chart and not only is BCH consolidating horizontally within a tight $80 range with minor resistance at Oct 11 and 15 highs at around $550, but there is a clear indecision thanks to two counter moves of Oct 11 and 15.
Even in the midst of a 90+ percent decline, we shall recommend taking a neutral stand until we see price rise and reverse Oct 11 losses or confirm it by melting below $400. If the former is the case then bulls set in motion by end of Sep could rally above $600.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post BCH/USD Bitcoin Cash Price Analysis: BCH Stable at $7.76 billion appeared first on NewsBTC.
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Bitcoin Cash Price Analysis: Successful ViaBTC’s ICO is “Very Bullish” for BCH

ViaBTC demonstration that it’s possible for startups to raise funds on the Bitcoin Cash blockchain is very bullish for BCH investors. Complementing this is Roger Ver’s solid plan of setting up a “high liquid exchange with BCH as base”. This and other fundamental development means our previous Bitcoin Cash trade plan is valid. In that case we recommend risk-off, aggressive traders to load up at spot and trade in the direction of Sep 27 with stops just below Aug 14 lows at $470.
Latest Bitcoin Cash News
Roger Ver or “Bitcoin Jesus”, a controversial Bitcoin Cash evangelist is considering opening a new cryptocurrency exchange. He is now looking for a partner. Though he might end up creating one “internally” it’s obvious that once it goes online, BCH will be base. As always, Roger Ver is confident. This time he says, should they decide to build their own exchange, then it will be at a cheap and “achieve exactly what they want”.  He went on to say the exchange will attract thousands of users per day. Because of this extreme popularity, the exchange will offer instant liquidity. Though no other details about design filtered through, Bitcoin.com will be host. The site is known to advance Bitcoin Cash causes. Aside from Roger Ver’s future exchange, CoinEx is the only exchange that has BCH as base currency.
In other boosting news, ViaBTC did their first ICO offering raising $30 million in 2.2 hours. The ICO was executed via the WORM protocol in the Bitcoin cash blockchain. The token, VIAT, is a value-added service that acts as GAS and as a means of value transfer. In total there will be 2 billion VIAT tokens and VIAT traders at CoinEx will receive air drops.
Bitcoin Cash Price Analysis
Weekly Chart

All things constant, BCH is stable. It’s down one percent in the last week and still trading inside week ending Sep 30 high lows. Besides, prices are drifting closer towards the psychological support at $500 and almost $70 from the main resistance line and buy trigger at $600.
Regardless of the optimism around price action, the simple fact that BCH buys are having a hard time to reverse losses from week ending Sep 9 hints of the strength of underlying bears. The moment prices break below $500 then odds of further declines towards Sep lows will rise. After all, prices are technically bearish with recent gains based on expectations/sentiment rather than solid price shifts.
Therefore, unless otherwise, we retain a neutral but bearish projection as far as price action is auctioned. We shall cancel this forecast once BCH prices rally past $600. Ideally, there should be volume surges as those of week ending Sep 30.
Daily Chart

Notice that BCH prices are in consolidation mode with clear resistance at $600 on the upside and support at $400. This $200 range is important in our Bitcoin Cash price analysis. However, the $500 support is conspicuous and is our immediate support line.
In our last Bitcoin Cash price analysis, we had proposed small size buys by risk-off traders with stops at Aug 14 lows. Against prevailing market conditions, this projection is still true. Since prices are still trading within Sep 27 high low in a clear consolidation, we suggest risk off traders to load up at spot rates with first targets at $500. However, should bears drive prices lower below $500 and $450, then we shall revert back to neutral waiting for reactions at the main support line at $400.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post Bitcoin Cash Price Analysis: Successful ViaBTC’s ICO is “Very Bullish” for BCH appeared first on NewsBTC.
Source: New feedNewsBTC.com