empty
20.09.2021 01:55 AM
Technical analysis for BCH/USD pair

BCH/USD

This image is no longer relevant

The bulls were able to work out the upward target for the breakdown of the daily cloud (805.67) almost perfectly, but they failed to hold on to the situation and consolidate at the reached heights. Thus, its opponent managed to achieve a major decline. The reference and support here was the weekly short-term trend (593.30). The decline was replaced by a long consolidation, the center of gravity is currently the daily levels 624.54 - 639.28 (Tenkan + the upper border of the daily cloud). The persistence of uncertainty, which led to consolidation, will keep the pair in the range of influence of 625-639. To change the situation, players need to break through the resistances that have united in a fairly wide zone 669.15 - 694.57 - 708.92 - 719.99 (daily cross levels + monthly Fibo Kijun). In order for new prospects to appear, the short-term weekly trend (593.30) must finally be captured, since it blocks the way to support the lower border of the daily cloud (547.96) and the upper border of the weekly cloud (529.78).

This image is no longer relevant

The key levels in the smaller time frames help contain the situation for the levels of the higher ones (625 - 639), which are now located at 624 - 633 (central pivot level + weekly long-term trend). Such a situation has been developing for a long time in the influence and attraction zone of these levels. The location and trading below the levels create some advantages for the bears. After breaking the current support 612 (S1), the next pivot points on the hourly chart can be noted at 604 (S2) and 592 (S3). In case of consolidation above the key levels (624 - 633) of the higher time frames, the preponderance of forces will shift to the bullish side. Their reference pivot points will be the resistances of the classic pivot levels 644 and 652.

***

Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday May 16, 2025.

If we look at the 4-hour chart, the Ethereum cryptocurrency appears to be moving above the WMA (21) which is a dynamic support where the WMA has a slope that

Arief Makmur 06:09 2025-05-16 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Cryptocurrency, Friday May 16, 2025.

On the 4-hour chart, the Uniswap cryptocurrency appears to have a Descending Broadening Wedge pattern, so even though the Uniswap price movement is moving below the WMA (21) which

Arief Makmur 06:09 2025-05-16 UTC+2

Bitcoin spikes from $96 600 to $104 500 in 24 hours

Bitcoin has surged to $104,500, after trading at $96,600 just yesterday morning. This confident move above the $100,000 mark clearly signals a return of strong bullish momentum in the cryptocurrency

Jakub Novak 14:49 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 9

Bitcoin has climbed above $100,000, while Ethereum is trying to consolidate above $2,000. After yesterday's sharp rally, which continued during today's Asian session, Bitcoin is now trading at $103,000, having

Miroslaw Bawulski 09:46 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Ethereum Cryptocurrency, Friday May 09, 2025.

If we look at the 4-hour chart of the Ethereum cryptocurrency, it appears that the price movement is moving above the WMA (30 Shift 2) which also has a slope

Arief Makmur 06:27 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Bitcoin Cryptocurrency, Friday May 09, 2025.

On the 4-hour chart of the Bitcoin cryptocurrency, the Stochastic Oscillator indicator can be seen to be in Overbought conditions and is now preparing to Cross SELL and break below

Arief Makmur 06:27 2025-05-09 UTC+2

Bitcoin: Who's Driving the Price Up — Powell, the U.S. Treasury, or Short Squeezes?

While stock indices remain stagnant, gold consolidates near its highs, and Bitcoin is once again capturing attention. The crypto market's flagship has approached the psychologically important $100,000 level

Ekaterina Kiseleva 00:28 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 8

Bitcoin reached just below $100,000, while Ethereum hit $1,900. Such a major growth in the cryptocurrency market once again confirms its bullish outlook, which has been discussed quite

Miroslaw Bawulski 09:22 2025-05-08 UTC+2

Bitcoin on the Brink: Breakout or Reversal?

Bitcoin's price is hovering near a psychologically significant threshold, with market participants bracing for another upward surge or a sudden reversal that could erase short-term bullish expectations. More chart

Ekaterina Kiseleva 01:16 2025-05-08 UTC+2

Crypto market opens with buoyant growth

US stock index futures surged sharply at the opening of today's trading session on news that representatives from the US and China have resumed consultations on trade matters. Media reports

Jurij Tolin 14:14 2025-05-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.