- Both the 50 SMA and the 100 SMA are offering resistance around $752.
- Bitcoin price is generally bearish, although there are no major movements.
Bitcoin Cash price opened the trading on Tuesday at $754.29; a slight increase from the opening price yesterday at $748.63. This could also mean that there is more buying power today. Moreover, the digital asset is forming another bullish flag pattern pending a breakout to the upside.
Both the 50 SMA and the 100 SMA are offering resistance around $752 while Bitcoin Cash price is trading at $745. The price is generally bearish, although there are no major movements. BCH/USD immediate supported is highlighted at $740, but if it fails $730 will stop the declines. A break below $730 could have Bitcoin Cash break down further to test the lower demand zone at $680 – $670.
The MACD is slightly in the negative region while the stochastic trend indicator is deep into the oversold levels signaling that selling pressure is likely to dominate in the short-term. On the upside, the gains are still limited below $760 for the second day now, but the key resistance is a4t $770.
BCH/USD 15′ chart
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