BCHUSD is now trading near the $900 level, and it remains at risk of more losses. Here is the 27-29 March Bitcoin Cash Technical Prediction.
27 March, AtoZForex – Bitcoin Cash or BCHUSD – the Fourth largest cryptocurrency in terms of market cap ($ 15.5 Billion) is trading near the $900 mark. The pair is under a lot of bearish pressure and it is likely to break the $840 support level as well. In the last 1 Week, the price has moved by $ -92.36 (-9.25%) with a total volume of over $ 244.38 Million. The highest price, $ 1,084.51, was on Wednesday, 21 March 2018. The lowest price, $ 879.05, was on Tuesday, 27 March 2018. Will the BCHUSD resist breaking the crucial support level?
27-29 March Bitcoin Cash Technical Prediction
A Falling three methods bearish candlestick pattern has emerged in the 5H timeframe. During a downtrend, a long black candlestick occurs, following by three candles of small real bodies that fall into a slight uptrend. On the fifth candle, the bears come in strong to close at a new low. This small uptrend, in between two long black candles, is consistent with investors taking a break. The downward trend should continue.
According to Fibonacci retracement charts, the BCHUSD pair trading below the 23.6% Fibo retr. zone and about to cross its previous lows. Moreover, the 38.2% Fib retracement level of the last drop from the $990 high to $881 low also prevented gains. On the downside, if the pair failed to sustain at the $ 900 – 880 zone than a downside slip towards US$ 840 could be seen by the end of this week.
The relative strength index(14) value remains below 50 which means Sell.
The CCI(14) valued at -152.58 which signify selling signal in the daily timeframe.
The STOCHRSI – Oversold in the daily timeframe.
Moreover, according to ATR(14), the BCHUSD pair is Less volatile.
The Bitcoin Cash has significant daily support near $ 870 level and resistance near $ 964 level.
BCHUSD Daily Pivot Points
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