Bitcoin Cash Price Analysis: BCH Finds Support at Moving Average Support; Are the Bulls Ready for Another Push?

Bitcoin Cash has seen a small 0.85% price decline over the past 24 hours of trading as the coin currently is exchanging hands at a price of $481.53, at the time of writing.
Key Highlights:

Bitcoin Cash has retraced to support at the 21 days EMA.
Is the market is positioned to make another rally ahead of the fork?
Support moving forward;  $480, $461, $437, $420, $400.
Resistance moving forward; $528, $556, $581, $600, $641, $667, $704.

If the candlestick closes at the current level it will form a Doji candlestick indecision strong indecision within the market which is expected with the upcoming expected hard fork.
The cryptocurrency has seen a steep price drop over the past 7 trading days which has totaled -16.55%.
Bitcoin Cash is currently ranked in 4th position ahead of the fork as it holds a market cap value just underneath $9 million. The 16-month-old project is currently trading at a price that is -87% lower than the all-time high value.
Let us continue to analyze price action a little closer over the short term and highlight potential support and resistance zones.
Bitcoin Cash Price Analysis
BCH/USD – SHORT TERM – DAILY CHART
Chart Source by Tradingview
Analyzing price action from the short term perspective above, we can see that the market has continued to retrace after placing the high at $646 on the 7th of November 2018. The market had surged from a low of $410 increasing by over 58%.
Price action has dropped below support at the short term .5 Fibonacci Retracement level (drawn in green) priced at $528 to where it is currently trading at the support provided by the 21 days EMA around the $520 handle.
Looking ahead, if the bearish pressure continues to push price action below the support at $520 we can expect immediate support below to be located at the short-term .618 Fibonacci Retracement level priced at $500. This support level is supported by a downside 1.272 Fibonacci Extension level (drawn in blue) and added psychological round number level support.
If the sellers continue to break below $500 we can then expect further support beneath to be located at the short-term .786 and .866 Fibonacci Retracement level priced at $461 and $437 respectively. The final level of strong support to highlight is located at the downside 1.414 Fibonacci Extension level (drawn in blue) priced at $420.
On the other hand, in our bullish outline, if the buyers can regroup and start to drive price action above the resistance at $528 we can expect higher resistance to be located at the .382 and .236 Fibonacci Retracement levels (drawn in green) priced at $556 and $591 respectively.
If the buyers can continue to drive the market back above $600 we can then expect higher resistance above to be located at the 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $641 and $667 respectively. The final level of resistance to highlight is located at the 1.618 Fibonacci Extension level (drawn in red) priced at $704.
The RSI has returned to the 50 handle which indicates that the market is in a period of indecision. If the bulls can push the RSI back above the 50 handles we could expect BCH to make another rally ahead of the fork once again.
The post Bitcoin Cash Price Analysis: BCH Finds Support at Moving Average Support; Are the Bulls Ready for Another Push? appeared first on Coingape.
Source: CoinGape

Bitcoin Cash Price Analysis: BCH/USD Trends of November 14–20, 2018

CoinSpeaker

Bitcoin Cash Price Analysis: BCH/USD Trends of November 14–20, 2018

Should the bears maintain or increase their pressure, the support zone of $501 will be broken and expose the support zone of $410 for Bitcoin Cash price to find its low.

Bitcoin Cash Price Analysis: BCH/USD Trends of November 14–20, 2018

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Source: CoinSpeaker

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

CoinSpeaker

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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Source: CoinSpeaker

Bitcoin Cash Price Analysis: BCH Breaks Above $480 As the Bulls Now Eyeball the $500 Handle

Bitcoin cash has seen a bullish price run totaling over 3.64% over the past 24 hours of trading. The cryptocurrency is presently exchanging hands at a price around $483 after witnessing a further price increase totaling 10.26% over the past 7 trading days.
Key Highlights:

Bitcoin Cash has recently seen a price surge breaking above the $480 handle.
The RSI indicator is showing signs that the bulls are still in control of the market momentum.
Support moving forward; $477, $447, $429, $420, $407, $400.
Resistance moving forward; $499, $520, $542, $578, $600, $641, $667, $704, $714.

Bitcoin Cash is now ranked in 4th position in terms of overall market cap across the entire industry. It holds a total market cap value of around $8.41 billion after undergoing a rough 90 day period where the market saw a price decline totaling -30.62% from low to high.
The 15-month-old coin is currently trading at a value that is -88% lower than its all-time high price.
Let us continue to analyze price action for Bitcoin Cash over the close term and highlight any areas of potential support and resistance.
Bitcoin Cash Price Analysis
BCH/USD – SHORT TERM – DAILY CHART
Bitcoin Cash Price Analysis Chart source by TradingView
Analyzing price action from the short term perspective above, we can see that Bitcoin Cash had experienced a price surge where the market began at a low of $408 on September 17, 2018, and extend to a high of $590 on September 27, 2018. This was a price increase totaling 44% from low to high.
We can see that as the market placed the high it had met short-term resistance at a 1.618 Fibonacci Extension level (drawn in red) priced at $578.40 before rolling over. Price action then continued to decline during September 2018 until support was found at the short term .886 Fibonacci Retracement level priced at $429.
Over the past few days we can see that price action has made a small bullish run breaking above resistance provided by the short term .618 Fibonacci REtracement level priced at $477.
Moving forward, in our bullish scenario, if the buyers continue to drive the market action higher we can expect immediate higher resistance to be located at the short term .5 Fibonacci Retracement level priced at $499. If the bullish pressure can continue higher we can find higher resistance at the .382 Fibonacci Retracement level priced at $520.50.
If the bulls can then continue to break up above the resistance at the September high priced at $590 we can expect further higher resistance above to be located at the 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $641 and $667 respectively. The last level of significant resistance to highlight is located at the 1.618 Fibonacci Extension level (drawn in blue) priced at $704.
Alternatively, in our bearish scenario, if the sellers re-enter the market and drive price action lower we can expect immediate support below to be located at the .618 and .786 Fibonacci Retracement levels priced at $477 and $447 respectively. Further support located below this can then be expected at teh .886 Fibonacci Retracement level priced at $429 followed by strong support in the $420 area.
The RSI is currently trading well above the 50 handle indicating that the bulls are in control of the momentum within the market. If the RSI can remain above the 50 handle we can expect this market to continue to make gains. However, it is important to notice that the RSI is reaching oversold conditions and a short-term pullback may be required before the market can climb further higher.
The post Bitcoin Cash Price Analysis: BCH Breaks Above $480 As the Bulls Now Eyeball the $500 Handle appeared first on Coingape.
Source: CoinGape

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.
Source: New feedNewsBTC.com

Bitcoin Cash Price Analysis: Is BCH in the Process of a Reversal? Strong Support at $420

Bitcoin Cash has seen a small price increase totaling 0.7% over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price around $443 after seeing a small 7-day price decline totaling 1.12%.

Bitcoin Cash had found strong support at the $420 handle during September 2018.
The market is now trading at short-term support provided by a .786 Fibonacci Retracement level.
Support moving forward; $447, $420, $410, $400.
Resistance moving forward; $477, $499, $520, $542, $578, $641, $667, $704.

Bitcoin Cash is currently ranked in 14th position in terms of overall market cap across the entire industry. It currently holds a total market cap value of $7.72 billion after suffering a precipitous price decline totaling -46% over the past 90 trading days.
The 15-month-old coin, Bitcoin Cash (BCH), is still trading at a value that is 89% lower than its all-time high price.
Let us continue to analyze price action for BCH over the long term to understand how the market has been behaving recently.
Bitcoin Cash Price Analysis
BCH/USD – LONG TERM – DAILY CHART
Chart Source By TradingView
Analyzing the market from the long-term perspective above, we can see that the past 5 months have been tough for Bitcoin Cash as price action continued to decrease persistently. The market had found some form of strong support at the downside 1.414 Fibonacci Extension level (drawn in light blue) priced at $420.60. As the market approached $420 the bulls began to step in and defend the level aggressively.
Bitcoin Cash Price action has rebounded from this support level and still has yet to break below the support.
Let us continue to analyze price action a little closer for BCH/USD and highlight any potential levels of support and resistance.
BCH/USD – SHORT TERM – DAILY CHART
Chart Source by TradingView
Analyzing the market action with the benefit from a closer time horizon, we can see that after reversing at the support identified at $420 the market went on to rally from a low of $407.90 on the 19th of September 2018 and extended to a high of $590 on the 27th of September 2018. This was a price increase totaling 45% from low to high.
After placing the high, price action rolled over and began to decline. We can see that it continued to fall until finding a level of strong support at the short term .886 Fibonacci Retracement level priced at $429 during the second week of October 2018.
Price action is now trading at support provided by the short-term .786 Fibonacci Retracement level priced at $447. Moving forward, if the bulls can regather momentum and push the market higher we can expect immediate resistance higher to be located at the short-term .618 and .5 Fibonacci Retracement levels (drawn in green) priced at $477 and $499, respectively. It is important to highlight that the $499 handle is significantly bolstered by the previous long-term downside 1.272 Fibonacci Extension level priced within the same region.
If the bulls can continue further higher they will meet further resistance above at the short term .382 Fibonacci Retracement level priced at $520 followed by the short-term 1.618 Fibonacci Extension level priced at $578. The resistance at $578 will require significant momentum to overcome due to the 100-day moving average being closely located within this area also.
If the bulls can persist even further higher above $600 then we can expect more resistance above at the 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $641 and $667 respectively.
The post Bitcoin Cash Price Analysis: Is BCH in the Process of a Reversal? Strong Support at $420 appeared first on Coingape.
Source: CoinGape

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

Bitcoin Cash (BCH) Price Analysis: Buyers Facing Significant Resistance

Bitcoin cash price found support near $470 and recovered against the US dollar. However, BCH/USD is facing much important resistance near $620-650 on the daily chart.
Important points

Bitcoin cash price recovery from the $470 low could be capped near the $620 and $650 levels.
There is a significant bearish trend line in place with resistance near $630 on the daily chart of BCH/USD.
The price is currently consolidating below the $600 resistance with bearish signs.

Bitcoin Cash price analysis
During the start of this month, bitcoin cash price declined heavily and broke the $700 and $680 support levels against the US Dollar. BCH/USD also broke the $600 and $500 support levels before buyers appeared near $470.
The daily chart of BCH/USD indicates that the price broke a key bullish trend line at $675 to move into a bearish zone. Later, it formed a short-term bottom at $470 and is currently correcting higher.
Chart sourced by TradingView, Bitfinex
The price moved above the $500 resistance zone and also spiked above the 23.6% Fibonacci retracement level of the last significant drop from the $879 high to $470 low.
However, the upside move faced sellers near the $600 level and the price retreated below the $580 level. On the upside, there are many resistances aligned near the $600-620 levels. There is also a significant bearish trend line in place with resistance near $630 on the same chart.
Above the trend line, the 50% Fibonacci retracement level of the last significant drop from the $879 high to $470 low is positioned at $674, which is also the previous support area.
Therefore, if bitcoin cash price continues to move higher, it is likely to face sellers near the $620 and $650 resistance levels. Only a close above $675 and the 50-day simple moving average ($710) could open the doors for more gains.
On the flip side, if the price fails to move past the $600. $620 and $650 resistance levels, it may possibly resume its downside move towards the $500 level. In the mentioned case, there are even chances of a fresh yearly low below $470 in the near term.
Also, read: Bitcoin Cash Again into the Headlines as CME Partner Launches BCH futures
The post Bitcoin Cash (BCH) Price Analysis: Buyers Facing Significant Resistance appeared first on Coingape.
Source: CoinGape