Bitcoin Cash Analysis: Bulls Aim Break above $400 | Live Bitcoin News

  • Bitcoin
    cash
    price
    started
    a
    fresh
    decline
    from
    the
    $450
    resistance
    against
    the
    US
    Dollar.
  • The
    price
    is
    now
    trading
    below
    the
    $400
    zone
    and
    the
    55
    simple
    moving
    average
    (4-hours).
  • There
    was
    a
    break
    above
    a
    major
    bearish
    trend
    line
    with
    resistance
    near
    $380
    the
    4-hours
    chart
    of
    the
    BCH/USD
    pair
    (data
    feed
    from
    Coinbase).
  • The
    pair
    must
    gain
    pace
    above
    $400
    for
    more
    gains
    in
    the
    near
    term.


Bitcoin
cash
price
is
showing
positive
signs
above
$380
against
the
US
Dollar,
similar
to

bitcoin
.
BCH/USD
could
gain
bullish
momentum
above
the
$400
level.

Bitcoin
Cash
Price
Analysis

Bitcoin
cash
price
started
a
major
decline
below
the
$400
support
zone.
BCH
price
even
declined
below
the
$380
support
and
the

55
simple
moving
average
(4-hours)
.

A
low
was
formed
near
$348,
and
the
price
started
a
fresh
increase.
There
was
a
break
above
the
$375
and
$380
levels.
The
pair
cleared
the
23.6%
Fib
retracement
level
of
the
downward
move
from
the
$452
swing
high
to
$348
low.

Besides,
there
was
a
break
above
a
major
bearish
trend
line
with
resistance
near
$380
the
4-hours
chart
of
the
BCH/USD
pair.
The
pair
is
now
trading
near
$385
level
and
the
55
simple
moving
average
(4-hours).

An
immediate
hurdle
on
the
upside
is
near
the
$390
level.
The
next
major
resistance
is
near
the
$400
level.
It
is
near
the
50%
Fib
retracement
level
of
the
downward
move
from
the
$452
swing
high
to
$348
low.
A
clear
break
above
$390
and
$400
might
spark
a
fresh
rally.

In
the
stated
case,
the
price
could
rise
towards
the
$450
level.
An
initial
support
is
near
the
$375
level.
The
first
major
support
is
near
the
$370
level.
A
downside
break
below
the
$375
and
$370
support
levels
might
start
a
major
decline.

The
next
major
support
is
near
the
$350
level,
below
which
the
bears
might
aim
a
test
of
$320.
Any
more
downsides
might
lead
the
price
towards
the
$300
level.


Bitcoin Cash Price

Bitcoin
Cash
Price

Looking
at
the

chart
,
bitcoin
cash
price
is
now
trading
below
the
$400
zone
and
the
55
simple
moving
average
(4-hours).
Overall,
the
price
must
gain
pace
above
$400
for
a
fresh
increase
in
the
near
term.

Technical
indicators

4
hours
MACD

The
MACD
for
BCH/USD
is
slowly
gaining
pace
in
the
bullish
zone.

4
hours
RSI
(Relative
Strength
Index)

The
RSI
for
BCH/USD
is
now
above
the
50
level.

Key
Support
Levels

$370
and
$350.

Key
Resistance
Levels

$400
and
$450.

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