Bitcoin Cash Intraday: above its upper Bollinger band
Bitcoin Cash (BCH/USD)
+9.77+1.95%
the upside prevails as long as 503.9 is support.
Our pivot point is at 503.9.
Our preference: the upside prevails as long as 503.9 is support.
Alternative scenario: the downside breakout of 503.9 would call for 492.8 and 486.2.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 506.5 and 502.2). Finally, the Bitcoin Cash / Dollar has crossed above its upper Bollinger band (513.2).
Supports and resistances:
548.8 **
542.1 *
535.5 **
528.8
515.4 last
508.3
503.9 **
492.8 *
486.2 **
Our preference: the upside prevails as long as 503.9 is support.
Alternative scenario: the downside breakout of 503.9 would call for 492.8 and 486.2.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 506.5 and 502.2). Finally, the Bitcoin Cash / Dollar has crossed above its upper Bollinger band (513.2).
Supports and resistances:
548.8 **
542.1 *
535.5 **
528.8
515.4 last
508.3
503.9 **
492.8 *
486.2 **
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