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Bitcoin Cash Price Analysis: BCH/USD trends horizontally, looks to bounce up from upward trending line

FX Street
Updated:
  • BCH/USD is currently consolidating its price between $375 and $380.
  • Both the MACD and Elliott Oscillator shows increasing bearish sentiment.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD went up slightly from $380.10 to $380.80 in the early hours of Wednesday. Over the last five days. BCH/USD has already been trending in an upward channel pattern and will look to gain momentum after bouncing up from the upward trending line. However, despite all this, both the MACD and Elliott Oscillator indicate increasing bearish sentiment. The RSI is hovering around 65.15, next to the overbought zone, as BCH/USD goes through consolidation.

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