• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance

Has Bitcoin Cash BCH/USD Bottomed Out?

By Kurt Osterberg · On April 19, 2018

We had yet another bullish day across the crypto market, with Bitcoin cash leading the top 20 cryptocurrencies with its 16% gain. From a technical point of view, it appears that BCH/USD may have bottomed out. Let’s take a closer look. 

Bitcoin Cash (BCH) Overview

Bitcoin Cash remains the most popular Bitcoin fork. Since its inception on August 1, 2017, Bitcoin Cash has aimed to effectively eliminate the problems associated with Bitcoin trading.

Some distinct features of Bitcoin Cash include faster and cheaper transactions comparing to Bitcoin, and that its ecosystem is maintained and controlled by separate independent development teams internationally.

Analysts are expecting further development updates which can change its future.BCH remains the 4th largest cryptocurrency, though its market cap jumped to $15 billion on Wednesday according to coin market cap.

BCH/USD Technical Analysis

From a technical point of view, Wednesday’s surge created a bullish engulfing candlestick pattern on the daily time frame. It could also be reaching the neckline of what appears to be a Saucer Bottom reversal chart pattern. A confirmation of this chart pattern could indicate that BCH/USD has bottomed out.

Bitcoin Cash BCH Technical Analysis

On the other hand, however, BCH price remains below the daily Ichimoku cloud. with the cloud acting as a resistance. Should this truly be the start of a new uptrend momentum, we could see the 23% and 38% Fibonacci retracement levels of $1475 and $1995 to be reached within the next couple of months.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    How To Earn A 10% Yield On Cost From PepsiCo Dividends

  • Finance

    Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

  • Finance

    How To Trade Options

Top Finance

  • Samsung Galaxy Note 9 Review Samsung Galaxy Note 9 Review
  • Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates
  • Hey, Sand Hill Exchange. Shouting 'blockchain!' won't stop the Feds Hey, Sand Hill Exchange. Shouting ‘blockchain!’ won’t stop the Feds
  • Nike's Kaepernick Ad Has Cost The Company Over $3 Billion So Far Nike’s Kaepernick Ad Has Cost The Company Over $3 Billion So Far
  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

New Posts

  • How To Earn A 10% Yield On Cost From PepsiCo Dividends

    How To Earn A 10% Yield On Cost From PepsiCo Dividends

    October 21, 2018
  • Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

    Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

    October 21, 2018
  • How To Trade Options

    How To Trade Options

    October 21, 2018
  • Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

    Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

    October 20, 2018
  • Self Sufficiency Over Adversity

    Self Sufficiency Over Adversity

    October 20, 2018
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018 NJCEE. All Rights Reserved.