Bitcoin Cash Price Technical Analysis – BCH/USD Consolidating above $1,150

Key Points

bitcoin cash price is trading inside a range, but it is holding the $1,150 support area against the US Dollar.
There is a short-term connecting bearish trend line forming with resistance at $1,240 on the hourly chart of BCH/USD (data feed from SimpleFX).
The pair has to move above the $1,250 and $1,350 levels to gain upside momentum.

bitcoin cash price is currently consolidating above $1,150 against the US Dollar. BCH/USD must break a couple of key resistance such as $1,350 to trade further higher.

bitcoin Cash Price Range

There was a short-term high formed around the $1,370 level in bitcoin cash price against the US Dollar. The price started a minor downside correction from the $1,370 high and declined below $1,300. There was also a break below the 23.6% Fib retracement level of the upside wave from the $935 low to $1,370 high. It opened the doors for more declines and the price tested the $1,150 support along with the 100 hourly simple moving average.

Moreover, the price almost tested the 50% Fib retracement level of the upside wave from the $935 low to $1,370 high. The mentioned $1,150 support is a major buy zone and it seems like the price is holding the stated level very well. At the moment, the price is trading inside a range above the $1,150 level. On the upside, there is a short-term connecting bearish trend line forming with resistance at $1,240 on the hourly chart of BCH/USD. The pair has to move above the trend line and settle above $1,250 to retest the $1,300 level. Above $1,300, the price may retest the $1,350 resistance.

On the downside, the $1,150 support holds a lot of importance and it must hold to avoid further slides.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is mostly flat.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is attempting to move above the 50 level.

Major Support Level – $1,150

Major Resistance Level – $1,350

Charts courtesy – SimpleFX

Published at Mon, 12 Feb 2018 04:08:14 +0000

Analysis

March 30, 2017

BitPesa & BitBond Jumpstart Bitcoin Blockchain Loans to Kenya

German Blockchain loans provider BitBond has partnered with BitPesa to facilitate payments directly to Kenya mobile accounts.

BitBond: Sub-Saharan Africa is 10% of Our User Base

The international partnership comes as Sub-Saharan Africa grows to 10% of BitBond’s user base and BitPesa’s popularity in its native Kenya continues.

BitBond CEO Radoslav Albrecht said in a blog post Tuesday:

This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes.

Smaller African enterprises’ lack of access to mature funding options has become a focus in recent times. In catering specifically to businesses, BitBond hopes to provide a major overhaul to the local ecosystem using the Blockchain and bitcoin as a backbone.

Focus on Developing Market Financing

Earlier this month, Daimler hinted at the possibility of considerable expansion into African markets following its acquisition of a European cryptocurrency transmitter business.

The concept is likely to involve similar facilitation of funding access for local businesses – specifically those in the automotive transport sector – helping resolve the current status quo where loanshark-like operators abound.

“The major problem observed in the automotive sector is lack of adequate financing facilities,” Ethiopian financial services company director Eskinder Desta told industry magazine Autconomy in an article discussing Daimler’s move.

Across the world’s developing economies, a reported 2 billion individuals and 200 million businesses lack the sort of funding options available elsewhere.

“This is an unprecedented level of innovation and convenience in the entire online lending space,” Albrecht added.

Blockchain Channels International Remittance Interest

BitPesa offers a raft of cashing out options on the consumer end, first and foremost via Kenyan mobile accounts, the analog equivalent of which – M-Pesa – has held a consumer monopoly for years in lieu of significant banking penetration.

The startup is seeing continued international interest in its remittance functionality. In February, Japanese-Kenyan company Africa Incubator joined up in order to expedite payments to and from the Far East.

“We are always excited to partner with companies that make doing business in Africa easier and more efficient,” BitPesa’s CEO Elizabeth Rossiello continued on the BitBond deal.

Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.

What do you think about BitBond’s plan to increase Blockchain loans to Kenyans? Let us know in the comments below!

Images courtesy of Shutterstock, Bitpesa, Bitbond

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