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  • BCH/USD is consolidating in a flag formation following a sharp upward movement.
  • BCH/USD is currently trading at $266.20.

BCH/USD is trading at $266.20 as markets opened this Thursday. Bitcoin Cash has had a host of good news recently, which encouraged the upward movement.

Firstly, Kraken delisted Bitcoin SV (BSV) following the #DelistBSV movement. As per Kraken:

“Bitcoin SV (BSV) trading is now disabled. Open orders will be canceled shortly. Please withdraw all BSV by May 31st, 2019. Bitcoin SV (BSV) deposits are now disabled. Deposits currently pending will be credited shortly. If you send funds in now, you may not be credited until after trading is disabled on April 29th. Please withdraw all BSV by May 31st, 2019.”

Along with that, Bitfinex also changed Bitcoin Cash’s ticker from BAB to BCH. This move was probably motivated by the exchange’s desire to not attract more criticism following the Tether debacle.

They also have a hardfork due on May 15th which will implement Schnorr Signatures.

BCH/USD Daily Chart

  • The BCH/USD price is consolidating in a flag formation.
  • The market is currently trading below the SMA 20 curve while it is still above the SMA 50 and SMA 200 curves.
  • The relative strength index (RSI) indicator is trending in the neutral zone.
  • The signal line is looking to converge with the MACD line indicating decreasing bearish momentum.