BCH/USD: Overall market remains bullish as bears try to stabilize price – Technical Analysis

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BCH/USD daily chart

  • BCH/USD is currently trading for $144 and is trending above the upper curve of the 20-day Bollinger Band, indicating a bullish market.
  • Bulls need to gather more momentum and break past resistance at $160.

BCH/USD 4-hour chart

  • The 4-hour BCH/USD market is prime for a breakout from the triangle formation.
  • The moving average convergence/divergence (MACD) histogram shows that the bulls have lost momentum in the short-run.
  • The market could be heading towards a period of consolidation.

BCH/USD hourly chart

  • BCH/USD hourly graph shows multiple flag formations.
  • The latest session sees the formation of a bearish flag.

Key Levels

  • Resistance 3: $157.0285
  • Resistance 2: $153.5535
  • Resistance 1: $147.1904
  • Pivot Point: $143.7154
  • Support 1: $137.3523
  • Support 2: $133.8773
  • Support 3: $127.5142

 

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