- BCH/USD daily chart crept above the triangle formation.
- The four-hour chart shows five straight green sessions.
BCH/USD daily chart
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BCH/USD went up from $185.10 to $187.75 this Thursday and has gone up further to $191.40 in the early hours of Friday. In the process, the price has crept above the triangle formation. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.
BCH/USD four-hour chart
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The four-hour chart is consolidating inside the 20-day Bollinger Band and the triangle formation. The price has found support at the 20-day Simple Moving Average (SMA 20) curve, while the Elliott Oscillator has had five straight green sessions.
BCH/USD hourly chart
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The hourly chart has found resistance at the red Ichimoku cloud and support at the upward trending line and the SMA 20 curve. Bitcoin Cash went up from $187.65 to $190.25 in just one hour, breaking past the resistance provided by the SMA 200 curve in the process. The Relative Strength Index (RSI) indicator is hovering around 67.15, right below the overbought zone, which indicates that the price may go up a little more before it faces bearish correction.
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