Bitcoin Cash Price Analysis: BCH flashes sell signals in 4-hour and 12-hour charts
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The BCH 4-hour chart flashed a sell sign in the TD sequential indicator. After flashing the signal, the price has been trending horizontally over the

  • The parabolic SAR has reversed from bullish to bearish in the 4-hour chart.
  • The IOMAP shows that the price is currently sitting on top of a healthy support wall.
  • The parabolic SAR has reversed from bullish to bearish in the 4-hour chart.
  • The parabolic SAR has reversed from bullish to bearish in the 4-hour chart.
  • The IOMAP shows that the price is currently sitting on top of a healthy support wall.
  • The IOMAP shows that the price is currently sitting on top of a healthy support wall.

    The BCH 4-hour chart flashed a sell sign in the TD sequential indicator. After flashing the signal, the price has been trending horizontally over the next six sessions.

    bchusd 4-hour chart

    bchusd 4-hour chartbchusd 4-hour chart

    BCH needs to break below the upward trending line and the SMA 200 ($224.25) to validate that sell signal and strengthen the downtrend. The parabolic SAR and MACD are both bearish, which shows that the price should ideally break below this period of consolidation. However, why is the price consolidating in the first place instead of going down? For that, we need to look at the IOMAP.

    BCH IOMAP 

    fxsoriginal

    fxsoriginalfxsoriginal

    IntoTheBlock’s “In/Out of the Money Around Price” model (IOMAP) shows us that BTC is presently sitting on top of a strong support wall at $223. At this level, around 106,810 addresses had previously purchased 816,280 BCH. As per the IOMAP, this support wall absorbs a lot of the selling pressure, which is preventing the downward trend, for now. However, if the sellers do break below this level, they may have enough momentum to take the price below $200.

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    On the upside, we have a moderate-to-strong resistance level, $233. In this level, 96,400 addresses had bought 594,000 BCH. 

    BCH 12-hour chart

    bchusd 12-hour chart

    bchusd 12-hour chartbchusd 12-hour chart

    The 12-hour chart helps us gain a better understanding of the potential price action. The latest candlestick has also flashed a sell signal in the TD sequential indicator. To solidify this downtrend, the price must break below the SMA 50 ($224) to have a bearish breakout from the flag formation. Following this, the price will probably drop down to the $214.45 support level. The relative strength index (RSI) is trending around the neutral zone, which shows that the sellers have plenty of room to move before the asset becomes undervalued. 

    candlestick

    BCH Key levels

    BCH/USD

    Overview
    Today last price 227.7138
    Today Daily Change 1.9304
    Today Daily Change % 0.85
    Today daily open 225.7834
     
    Trends
    Daily SMA20 224.9054
    Daily SMA50 254.8247
    Daily SMA100 252.1534
    Daily SMA200 242.794
     
    Levels
    Previous Daily High 234.6996
    Previous Daily Low 223.8736
    Previous Weekly High 233.4679
    Previous Weekly Low 203.1995
    Previous Monthly High 338.2532
    Previous Monthly Low 244.1306
    Daily Fibonacci 38.2% 228.0091
    Daily Fibonacci 61.8% 230.564
    Daily Pivot Point S1 221.5381
    Daily Pivot Point S2 217.2929
    Daily Pivot Point S3 210.7121
    Daily Pivot Point R1 232.3641
    Daily Pivot Point R2 238.9449
    Daily Pivot Point R3 243.1901

     

    BCH/USD

    Overview
    Today last price 227.7138
    Today Daily Change 1.9304
    Today Daily Change % 0.85
    Today daily open 225.7834
     
    Trends
    Daily SMA20 224.9054
    Daily SMA50 254.8247
    Daily SMA100 252.1534
    Daily SMA200 242.794
     
    Levels
    Previous Daily High 234.6996
    Previous Daily Low 223.8736
    Previous Weekly High 233.4679
    Previous Weekly Low 203.1995
    Previous Monthly High 338.2532
    Previous Monthly Low 244.1306
    Daily Fibonacci 38.2% 228.0091
    Daily Fibonacci 61.8% 230.564
    Daily Pivot Point S1 221.5381
    Daily Pivot Point S2 217.2929
    Daily Pivot Point S3 210.7121
    Daily Pivot Point R1 232.3641
    Daily Pivot Point R2 238.9449
    Daily Pivot Point R3 243.1901

    BCH/USD

    Overview
    Today last price 227.7138
    Today Daily Change 1.9304
    Today Daily Change % 0.85
    Today daily open 225.7834
     
    Trends
    Daily SMA20 224.9054
    Daily SMA50 254.8247
    Daily SMA100 252.1534
    Daily SMA200 242.794
     
    Levels
    Previous Daily High 234.6996
    Previous Daily Low 223.8736
    Previous Weekly High 233.4679
    Previous Weekly Low 203.1995
    Previous Monthly High 338.2532
    Previous Monthly Low 244.1306
    Daily Fibonacci 38.2% 228.0091
    Daily Fibonacci 61.8% 230.564
    Daily Pivot Point S1 221.5381
    Daily Pivot Point S2 217.2929
    Daily Pivot Point S3 210.7121
    Daily Pivot Point R1 232.3641
    Daily Pivot Point R2 238.9449
    Daily Pivot Point R3 243.1901

    BCH/USD

    Overview
    Today last price 227.7138
    Today Daily Change 1.9304
    Today Daily Change % 0.85
    Today daily open 225.7834
     
    Trends
    Daily SMA20 224.9054
    Daily SMA50 254.8247
    Daily SMA100 252.1534
    Daily SMA200 242.794
     
    Overview
    Today last price 227.7138
    Today Daily Change 1.9304
    Today Daily Change % 0.85
    Today daily open 225.7834
    Overview Overview Overview Today last price 227.7138 Today Daily Change 1.9304 Today Daily Change % 0.85 Today daily open 225.7834 Today last price 227.7138 Today last price227.7138227.7138 Today Daily Change 1.9304 Today Daily Change1.93041.9304 Today Daily Change % 0.85 Today Daily Change %0.850.85 Today daily open 225.7834 Today daily open225.7834225.7834
     
    Trends
    Daily SMA20 224.9054
    Daily SMA50 254.8247
    Daily SMA100 252.1534
    Daily SMA200 242.794
    Trends Trends Trends Daily SMA20 224.9054 Daily SMA50 254.8247 Daily SMA100 252.1534 Daily SMA200 242.794 Daily SMA20 224.9054 Daily SMA20224.9054224.9054 Daily SMA50 254.8247 Daily SMA50254.8247254.8247 Daily SMA100 252.1534 Daily SMA100252.1534252.1534 Daily SMA200 242.794 Daily SMA200242.794242.794
     
    Levels
    Previous Daily High 234.6996
    Previous Daily Low 223.8736
    Previous Weekly High 233.4679
    Previous Weekly Low 203.1995
    Previous Monthly High 338.2532
    Previous Monthly Low 244.1306
    Daily Fibonacci 38.2% 228.0091
    Daily Fibonacci 61.8% 230.564
    Daily Pivot Point S1 221.5381
    Daily Pivot Point S2 217.2929
    Daily Pivot Point S3 210.7121
    Daily Pivot Point R1 232.3641
    Daily Pivot Point R2 238.9449
    Daily Pivot Point R3 243.1901
    Levels
    Previous Daily High 234.6996
    Previous Daily Low 223.8736
    Previous Weekly High 233.4679
    Previous Weekly Low 203.1995
    Previous Monthly High 338.2532
    Previous Monthly Low 244.1306
    Daily Fibonacci 38.2% 228.0091
    Daily Fibonacci 61.8% 230.564
    Daily Pivot Point S1 221.5381
    Daily Pivot Point S2 217.2929
    Daily Pivot Point S3 210.7121
    Daily Pivot Point R1 232.3641
    Daily Pivot Point R2 238.9449
    Daily Pivot Point R3 243.1901
    Levels Levels Levels Previous Daily High 234.6996 Previous Daily Low 223.8736 Previous Weekly High 233.4679 Previous Weekly Low 203.1995 Previous Monthly High 338.2532 Previous Monthly Low 244.1306 Daily Fibonacci 38.2% 228.0091 Daily Fibonacci 61.8% 230.564 Daily Pivot Point S1 221.5381 Daily Pivot Point S2 217.2929 Daily Pivot Point S3 210.7121 Daily Pivot Point R1 232.3641 Daily Pivot Point R2 238.9449 Daily Pivot Point R3 243.1901 Previous Daily High 234.6996 Previous Daily High234.6996234.6996 Previous Daily Low 223.8736 Previous Daily Low223.8736223.8736 Previous Weekly High 233.4679 Previous Weekly High233.4679233.4679 Previous Weekly Low 203.1995 Previous Weekly Low203.1995203.1995 Previous Monthly High 338.2532 Previous Monthly High338.2532338.2532 Previous Monthly Low 244.1306 Previous Monthly Low244.1306244.1306 Daily Fibonacci 38.2% 228.0091 Daily Fibonacci 38.2%228.0091228.0091 Daily Fibonacci 61.8% 230.564 Daily Fibonacci 61.8%230.564230.564 Daily Pivot Point S1 221.5381 Daily Pivot Point S1221.5381221.5381 Daily Pivot Point S2 217.2929 Daily Pivot Point S2217.2929217.2929 Daily Pivot Point S3 210.7121 Daily Pivot Point S3210.7121210.7121 Daily Pivot Point R1 232.3641 Daily Pivot Point R1232.3641232.3641 Daily Pivot Point R2 238.9449 Daily Pivot Point R2238.9449238.9449 Daily Pivot Point R3 243.1901 Daily Pivot Point R3243.1901243.1901

     


     


    From: FXSTREET