Home Bitcoin NewsBitCoin Forex Bitcoin Cash Price Analysis: BCH/USD continues to trend in the lower half of the 20-day Bollinger Band

Bitcoin Cash Price Analysis: BCH/USD continues to trend in the lower half of the 20-day Bollinger Band

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  • BCH/USD has had a bullish start to Wednesday following a bearish Tuesday.
  • William’s %R has bounced up from the oversold zone following Wednesday’s bullish price action.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD had a bullish start to Wednesday as the price went up from $228.08 to $228.77. Following this positive price action, the William’s %R has bounced up from the edge of the oversold zone. BCH/USD continues to consolidate in the lower half of the 20-day Bollinger Band, below the downward trending line.

BCH/USD current faces resistance at the downward trending line, $233.60, SMA 20, SMA 50 and $242.25. On the downside, BCH/USD has strong support at $223.18 and $215.45.

Key levels

 

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