Bitcoin Cash Intraday: above its upper Bollinger band
Bitcoin Cash (BCH/USD)
+13.45+3.33%
the upside prevails as long as 398.7 is support.
Our pivot point stands at 398.7.
Our preference: the upside prevails as long as 398.7 is support.
Alternative scenario: the downside breakout of 398.7 would call for 387.9 and 381.5.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 404.9 and 400.2). Finally, the Bitcoin Cash / Dollar has crossed above its upper Bollinger band (412.9).
Supports and resistances:
447.2 **
440.6 *
434.1 **
427.6
414.1 last
402.9
398.7 **
387.9 *
381.5 **
Our preference: the upside prevails as long as 398.7 is support.
Alternative scenario: the downside breakout of 398.7 would call for 387.9 and 381.5.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 404.9 and 400.2). Finally, the Bitcoin Cash / Dollar has crossed above its upper Bollinger band (412.9).
Supports and resistances:
447.2 **
440.6 *
434.1 **
427.6
414.1 last
402.9
398.7 **
387.9 *
381.5 **
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