RATE Group | BCH/USD defies the crypto market, goes up by 5.71%
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BCH/USD defies the crypto market, goes up by 5.71%

14 Aug BCH/USD defies the crypto market, goes up by 5.71%

Posted at 00:42h in Bitcoin News by

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  • BCH/USD went up from $329.05 to $348.25 over this Tuesday.
  • BCH/USD has had a bullish breakout from a triangle formation.

BCH/USD daily chart

fxsoriginal

While the rest of the crypto market has seen red, BCH/USD has gone up from $329.05 to $348.25 this Tuesday. The latest candlestick is sandwiched between the 20-day simple moving average (SMA 20) and SMA 50 curves. The most recent candlestick has had a bullish breakout from the triangle formation. The moving average convergence/divergence (MACD) line was about to cross over with the signal line before it diverged away. This shows that bullish momentum was decreasing before it started increasing again.

BCH/USD 4-hour chart

fxsoriginal

The 4-hour price chart shows five straight bullish sessions, wherein the price went up from $329.20 to $348.25. The price is trending above the SMA 20, SMA 50 and SMA 200 curves. The SMA 20 curve has crossed over with the SMA 50 curve, which is a very bullish sign. The 20-day Bollinger jaw has…

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