{"id":190343,"date":"2018-11-05T23:28:15","date_gmt":"2018-11-06T04:28:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-price-analysis-bch-usd-approaching-next-key-break\/190343"},"modified":"2021-07-24T14:30:45","modified_gmt":"2021-07-24T18:30:45","slug":"bitcoin-cash-price-analysis-bch-usd-approaching-next-key-break","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-price-analysis-bch-usd-approaching-next-key-break","title":{"rendered":"Bitcoin Cash Price Analysis: BCH\/USD Approaching Next Key Break"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>Key Points<\/p>\n<ul>\n<li>Bitcoin cash price is currently consolidating above the $535 support against the US Dollar.<\/li>\n<li>There is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to make the next move either above $570 or below $550 in the near term.<\/li>\n<\/ul>\n<p><em>Bitcoin cash price is preparing for the next move against the US Dollar. BCH\/USD could rally once again if there is a break above the $570 resistance.<\/em><\/p>\n<h3>Bitcoin Cash Price Analysis<\/h3>\n<p>Yesterday, we saw a <a href=\"https:\/\/www.newsbtc.com\/2018\/11\/05\/bitcoin-cash-price-analysis-bch-usd-remains-buy-on-dips\/\" target=\"_blank\" rel=\"noopener\">solid upward move<\/a> above the $550 resistance in bitcoin cash price against the US Dollar. The BCH\/USD pair traded towards the $600 level and formed a high at $589. Later, there was a minor downside correction and the price traded below $550. There was also a break below the 23.6% Fib retracement level of the last upside from the $473 low to $489 high.<\/p>\n<p>On the downside, the $535 level acted as a decent support and prevented further losses. Moreover, there was no break below the 50% Fib retracement level of the last upside from the $473 low to $489 high. The price is <a href=\"https:\/\/www.newsbtc.com\/2018\/11\/04\/bitcoin-cash-price-weekly-analysis-bch-usd-could-extend-gains-above-500\/\" target=\"_blank\" rel=\"noopener\">currently consolidating<\/a> above the $535 support. More importantly, there is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH\/USD pair. If the pair breaks the triangle resistance at $570, it will most likely revisit the $589 high. Above the stated high, the price could test the $600 level, which is a major barrier. On the other hand, a downside break below $550 may well push the price towards the $535 support.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-358520\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/11\/Bitcoin-Cash4.png\" alt=\"Bitcoin Cash Price Analysis BCH Chart\" width=\"1828\" height=\"899\" \/><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/BCHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a>, BCH price is preparing for the next move and it will either break $570 or move below $550 in the near term.<\/p>\n<p>Looking at the technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD for BCH\/USD is about to move into the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BCH\/USD is above the 50 level.<\/p>\n<p>Major Support Level \u2013 $550<\/p>\n<p>Major Resistance Level \u2013 $570<\/p>\n<p>&nbsp;<\/p>\n<p>The post <a href=\"https:\/\/www.newsbtc.com\/2018\/11\/06\/bitcoin-cash-price-analysis-bch-usd-approaching-next-key-break\/\" rel=\"nofollow\">Bitcoin Cash Price Analysis: BCH\/USD Approaching Next Key Break<\/a> appeared first on <a href=\"https:\/\/www.newsbtc.com\/\" rel=\"nofollow\">NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">&nbsp; Key Points Bitcoin cash price is currently consolidating above the $535 support against the US Dollar. There is a key contracting triangle formed with <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-price-analysis-bch-usd-approaching-next-key-break\" title=\"Bitcoin Cash Price Analysis: BCH\/USD Approaching Next Key Break\">[&#8230;]<\/a><\/div>","protected":false},"author":168,"featured_media":190346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-190343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Cash Price Analysis: BCH\/USD Approaching Next Key Break - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"BCH price is preparing for the next move against the US Dollar. BCH\/USD could rally once again if there is a break above the $570 resistance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/190343\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash Price Analysis: BCH\/USD Approaching Next Key Break\" \/>\n<meta property=\"og:description\" content=\"BCH price is preparing for the next move against the US Dollar. 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