RATE Group | BCH/USD has a bullish breakout from triangular formation
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BCH/USD has a bullish breakout from triangular formation

20 Aug BCH/USD has a bullish breakout from triangular formation

Posted at 02:18h in Bitcoin News by

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  • BCH/USD has gone up from $317 to $325 so far this Tuesday. 
  • SMA 20 curve acts as immediate market resistance.

BCH/USD daily chart

fxsoriginal

Follow two straight bullish days the BCH/USD price chart has had a bullish breakout from the triangle formation. Over this Tuesday, the price has gone up from $317 to $325. The 20-day simple moving average (SMA 20) curve is acting as immediate market resistance and is looking to cross over the SMA 50 curve. The moving average convergence/divergence (MACD) indicator shows decreasing bearish momentum,

BCH/USD 4-hour chart

fxsoriginal

The 4-hour BCH/USD is currently consolidating within the triangle formation. The chart shows that the price went up from $317 to $324.55 before falling to $320.50. Since then, the price went back up to $325. The 4-hour market is currently trending below the red Ichimoku cloud. The Elliot oscillator has had ten straight bullish sessions.

BCH/USD hourly chart

fxsoriginal

The hourly BCH/USD market has found support on…

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