BITCOIN CASH - BCH/USD - 1H - Technical analysis published on 07/16/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
11%
33%
56%
My opinion
Bearish under 318.18 USD
My targets
289.01 USD (-6.66%)
271.20 USD (-12.41%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on Bitcoin Cash - BCH/USD. As long as you are under the resistance located at 318.18 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 289.01 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 271.20 USD as an objective. Crossing it would then enable sellers to target 251.24 USD. If the resistance 318.18 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The Bitcoin Cash - BCH/USD price is 309.63 USD. On the day, this instrument lost -1.15% and was between 301.97 USD and 317.80 USD. This implies that the price is at +2.54% from its lowest and at -2.57% from its highest.301.97
317.80
309.63
The Central Gaps scanner detects a bullish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of Bitcoin Cash - BCH/USD indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 2 are bullish, 10 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 251.24 | 271.20 | 289.01 | 309.63 | 318.18 | 349.90 | 380.04 |
| Change (%) | -18.86% | -12.41% | -6.66% | - | +2.76% | +13.01% | +22.74% |
| Change | -58.39 | -38.43 | -20.62 | - | +8.55 | +40.27 | +70.41 |
| Level | Major | Minor | Minor | - | Major | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 193.24 | 222.24 | 267.73 | 296.73 | 342.22 | 371.22 | 416.71 |
| Camarilla | 292.74 | 299.56 | 306.39 | 313.22 | 320.05 | 326.88 | 333.71 |
| Woodie | 201.49 | 226.36 | 275.98 | 300.85 | 350.47 | 375.34 | 424.96 |
| Fibonacci | 222.24 | 250.70 | 268.28 | 296.73 | 325.19 | 342.77 | 371.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 184.72 | 250.35 | 297.23 | 362.86 | 409.74 | 475.37 | 522.25 |
| Camarilla | 313.16 | 323.47 | 333.79 | 344.10 | 354.41 | 364.73 | 375.04 |
| Woodie | 175.34 | 245.66 | 287.85 | 358.17 | 400.36 | 470.68 | 512.87 |
| Fibonacci | 250.35 | 293.33 | 319.89 | 362.86 | 405.84 | 432.40 | 475.37 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 184.85 | 274.57 | 336.13 | 425.85 | 487.41 | 577.13 | 638.69 |
| Camarilla | 356.08 | 369.95 | 383.81 | 397.68 | 411.55 | 425.42 | 439.28 |
| Woodie | 170.76 | 267.53 | 322.04 | 418.81 | 473.32 | 570.09 | 624.60 |
| Fibonacci | 274.57 | 332.36 | 368.06 | 425.85 | 483.64 | 519.34 | 577.13 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 51.67 | |
| MACD (12,26,9): | 1.3100 | |
| Directional Movement: | -2.91 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 311.48 | |
| Parabolic SAR (0,02-0,02-0,2): | 325.29 | |
| Elder Ray (13): | -0.93 | |
| Super Trend (3,10): | 292.43 | |
| Zig ZAG (10): | 311.41 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 34.64 | |
| TEMA (21): | 314.02 | |
| Williams %R (14): | -56.39 | |
| Chande Momentum Oscillator (20): | -8.59 | |
| Repulse (5,40,3): | 0.7100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 3.32 |
| MA7: | 333.82 | |
| MA20: | 385.77 | |
| MA50: | 409.29 | |
| MA100: | 365.91 | |
| MAexp7: | 310.63 | |
| MAexp20: | 309.49 | |
| MAexp50: | 311.74 | |
| MAexp100: | 324.53 | |
| Price / MA7: | -7.25% | |
| Price / MA20: | -19.74% | |
| Price / MA50: | -24.35% | |
| Price / MA100: | -15.38% | |
| Price / MAexp7: | -0.32% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.68% | |
| Price / MAexp100: | -4.59% |
This member declared not having a position on this financial instrument or a related financial instrument.
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