RATE Group | BCH/USD is currently trending in a downwards channel formation
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BCH/USD is currently trending in a downwards channel formation

20 Jul BCH/USD is currently trending in a downwards channel formation

Posted at 20:41h in Bitcoin News by

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  • BCH/USD is currently trading around $308 in the early hours of Saturday.
  • The relative strength index (RSI) indicator is trending around 39, right next to the oversold zone.

BCH/USD daily chart

fxsoriginal

BCH/USD went down from $315.15 to $307.50 this Friday as bears took control of the market following two straight bullish days. BCH/USD managed to have a bullish start to the day as the price has gone up to $308. The daily price is trending below the 50-day simple moving average (SMA 50) and SMA 20 curves while it is above the SMA 200 curve. The relative strength index (RSI) indicator is trending around 39, right next to the oversold zone.

BCH/USD 4-hour chart

fxsoriginal

The 4-hour BCH/USD market is trending below the green Ichimoku cloud. The market sentiment will soon turn bearish as per the Ichimoku cloud. The 4-hour price chart sees significant resistance at $315.75 and finds support at $301.85. The moving average convergence/divergence (MACD) indicator shows sustained…

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