BCH/USD Technical Indicators
BCH/USD charts show a similar correlation to BTC/USD patterns across the 4-hour template. There’s not much difference between the two, as both cryptocurrencies are down in value compared to a few days ago. The 100 SMA and 200 SMA are similarly gapped with the short term 100 well above the 200 trendline. This indicates resistance is fierce at the moment, and, if the price of BCH doesn’t get past the current vantage point, the coin’s value could go lower. RSI and Stochastic levels are seeing a temporary bounce up, but both have been heading southbound. Order books show the value should hold pretty decent between $825 and $780 per BCH. On the flip side, if bulls manage to push past resistance during the eastern side of the world’s trading sessions there should be pit stops around $910 and $1K.
Markets Update: Cryptocurrency Prices Begin to Sink Once Again
At the time of publication, BCH/USD prices are roughly $877 per coin.
The Verdict: Crypto-Traders’ Uncertainty and Doubt Remain
As mentioned in our last markets update, traders have been uncertain after the BTC/USD price dropped, trying to stay above $9K. Shorts (betting against the price) started stacking up on exchanges like Bitmex and other trading platforms, offering margin trading. Long contracts (betting the value will be bullish) have slimmed as well over the past weekend. Regulatory FUD has lessened a touch in the news, but overall the past few months of doubt still plagues cryptocurrency markets today.
Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Bitstamp, Trading View, and Coinmarketcap.
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TAGS4-HOUR CHARTBCHBEARSBITCOIN CASHBITCOIN COREBNBBTCBULLSDAILYMACDMARKET CAPSMARKET MOVEMENTSN-MARKETS AND PRICESPATTERNSPRICESRSISMASTOCHASTICTECHNICAL INDICATORSTRADE VOLUMETRENDLINESVALUES
Jamie Redman
Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written hundreds of articles about the disruptive protocols emerging today.
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