• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Bitcoin Cash Price Weekly Analysis BCH USD

Bitcoin Price Weekly Analysis – BCH/USD Bearish Breakout?

Aayush Jindal by Aayush Jindal
5 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Key Points

  • Bitcoin cash price after a sharp decline corrected higher towards $740 against the US Dollar.
  • There is a contracting triangle pattern forming with support at $600 on the 4-hours chart of BCH/USD (data feed from Kraken).
  • A break and close below $600 could open the doors for more declines in the near term.

Bitcoin cash price has likely completed a correction at $740 against the US Dollar, and BCH/USD is now positioning for more declines.

Bitcoin Cash Price Support

There were choppy moves in BCH price this past week as it moved above the $700 level against the US Dollar. After a decline towards the $530 level, there was a correction initiated. The price moved above the 38.2% Fib retracement level of the last decline from the $640 high to $530 low. However, the upside move was limited by the $750 resistance zone.

The price failed near the 50% Fib retracement level of the last decline from the $640 high to $530 low. After the failure, the price started a declining path and currently trading below the $660 support area. There is a contracting triangle pattern forming with support at $600 on the 4-hours chart of BCH/USD. There are high chances that the pair would break the triangle support at $600 and move down. As long as the pair is below the triangle resistance at $650, it is at risk of a downside break.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Bitcoin Cash Price Weekly Analysis BCH USD

Once there is a break, the pair could trade towards the $530 low. Alternatively, if buyers come into the action and manages to take the price above $650, there can be a retest of $740. It all depends on the upcoming break either below $600 or above $650.

Looking at the technical indicators:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

4-hours MACD – The MACD for BCH/USD is mostly flat and suggesting range trading.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently below the 50 level, and pointing a bearish sign.

Major Support Level – $600

Major Resistance Level – $650

 

Charts courtesy – Trading View, Kraken

Tags: BCHBCHUSDBitcoin Cash AnalysisBitcoin Cash ChartBitcoin Cash ForecastBitcoin Cash PriceblockchaindaytradingOnlinetradingvirtual currency
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

XRP Whales Accumulate Almost 60.2 Million Tokens, Is A Bull Run Coming?

XRP Whales Accumulate Massive Tokens – Is A Bull Run Coming?

4 days ago
Solana Price Rallies Over 10%

SOL Price Prediction: Solana Rally Could Gather Pace above $30

5 days ago
Ethereum Price

Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

5 days ago
Bitcoin Altcoins FTX

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

5 days ago
Polkadot’s DOT Eyes Fresh Rally

DOT Price (Polkadot) Indicators Suggest Strong Case For Fresh Rally

6 days ago
Ethereum

Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

6 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.