BITCOIN CASH - BCH/USD - 1H - Technical analysis published on 08/29/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 196.16 USD
My targets
188.85 USD (-0.78%)
186.86 USD (-1.83%)
My analysis
BITCOIN CASH - BCH/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 196.16 USD. The next support located at 188.85 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 186.86 USD. Below this support, sellers could then target 184.43 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN CASH - BCH/USD price is 190.34 USD. The price is lower by -0.08% since the last closing with the lowest point at 189.02 USD and the highest point at 192.37 USD. The deviation from the price is +0.70% for the low point and -1.06% for the high point.189.02
192.37
190.34
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of BITCOIN CASH - BCH/USD in 1H shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 7 are bullish, 6 are neutral and 5 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 184.43 | 186.86 | 188.85 | 190.34 | 190.92 | 196.16 | 201.15 |
| Change (%) | -3.10% | -1.83% | -0.78% | - | +0.30% | +3.06% | +5.68% |
| Change | -5.91 | -3.48 | -1.49 | - | +0.58 | +5.82 | +10.81 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 176.38 | 182.11 | 186.31 | 192.04 | 196.24 | 201.97 | 206.17 |
| Camarilla | 187.77 | 188.68 | 189.59 | 190.50 | 191.41 | 192.32 | 193.23 |
| Woodie | 175.61 | 181.73 | 185.54 | 191.66 | 195.47 | 201.59 | 205.40 |
| Fibonacci | 182.11 | 185.91 | 188.25 | 192.04 | 195.84 | 198.18 | 201.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 163.38 | 171.41 | 180.76 | 188.79 | 198.14 | 206.17 | 215.52 |
| Camarilla | 185.32 | 186.91 | 188.51 | 190.10 | 191.69 | 193.29 | 194.88 |
| Woodie | 164.03 | 171.74 | 181.41 | 189.12 | 198.79 | 206.50 | 216.17 |
| Fibonacci | 171.41 | 178.05 | 182.15 | 188.79 | 195.43 | 199.53 | 206.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 163.55 | 197.76 | 222.83 | 257.04 | 282.11 | 316.32 | 341.39 |
| Camarilla | 231.60 | 237.03 | 242.47 | 247.90 | 253.33 | 258.77 | 264.20 |
| Woodie | 158.98 | 195.48 | 218.26 | 254.76 | 277.54 | 314.04 | 336.82 |
| Fibonacci | 197.76 | 220.41 | 234.40 | 257.04 | 279.69 | 293.68 | 316.32 |
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): | 44.34 | |
| MACD (12,26,9): | -0.5100 | |
| Directional Movement: | -7.77 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 190.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 192.17 | |
| Elder Ray (13): | -0.60 | |
| Super Trend (3,10): | 192.59 | |
| Zig ZAG (10): | 189.98 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 39.75 | |
| TEMA (21): | 189.94 | |
| Williams %R (14): | -50.66 | |
| Chande Momentum Oscillator (20): | 1.79 | |
| Repulse (5,40,3): | -0.0900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 0.22 |
| MA7: | 192.61 | |
| MA20: | 202.52 | |
| MA50: | 227.90 | |
| MA100: | 196.00 | |
| MAexp7: | 190.33 | |
| MAexp20: | 190.78 | |
| MAexp50: | 191.42 | |
| MAexp100: | 191.34 | |
| Price / MA7: | -1.18% | |
| Price / MA20: | -6.01% | |
| Price / MA50: | -16.48% | |
| Price / MA100: | -2.89% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -0.56% | |
| Price / MAexp100: | -0.52% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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