Home BCH/USD Market Overview: Bulls push the price up by 7.5% this Friday
Crypto News

BCH/USD Market Overview: Bulls push the price up by 7.5% this Friday

FX Street
Updated:
  • BCH/USD went up to $141 from $131 this Friday.
  • Technical analysis shows that further bullish movement is expected.

BCH/USD bulls took control and pushed the market up by 7.5% as the price went from $131 to $141. The technical analysis shows that further upward movement is expected. Critical resistance lies at $148 as bulls will attempt to breach past the level.

BCH/USD daily chart

The BCH/USD daily market has had a bullish breakout from the flag formation. The last session has pushed the market above the upper curve of the 20-day Bollinger band and converted the Elliot wave oscillator from bearish to bullish. The narrowing of the Bollinger band also shows decreasing market volatility. The relative strength index (RSI) curve shows a spike towards the overbought territory. The moving average convergence/divergence (MACD) indicates a reversal of momentum from bearish to bullish. These bullish signs indicate that further upward movement is expected.
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024