Bitcoin Cash Price Weekly Analysis – Can BCH/USD Hold $600?

Key Points

bitcoin cash price declined this past week and tested the $600 support zone against the US Dollar.
There is a monster bearish trend line forming with resistance at $680 on the 4-hours chart of the BCH/USD pair (data feed from SimpleFX).
The pair may continue to correct a few points higher, but it could face sellers near $680-700 in the near term.

bitcoin cash price remains in a bearish zone below $700 against the US Dollar. BCH/USD must stay above the $600 level to start a fresh recovery.

bitcoin Cash Price Support

There were heavy losses in bitcoin cash price this past week from well above $700 against the US Dollar. The price declined and broke a few important supports such as $680 and $650. It traded close to the $600 support and formed a low at $599.5. Later, a minor upside move was initiated and the price moved above $620. There was also a break above the 23.6% Fib retracement level of the last decline from the $725 high to $599 low.

However, there are many barriers on the upside starting with the $670 level. There is also a monster bearish trend line forming with resistance at $680 on the 4-hours chart of the BCH/USD pair. An immediate resistance is near the 50% Fib retracement level of the last decline from the $725 high to $599 low at $660. A break and close above the $660 level would call for a test of the $680-700 resistance zone. A proper break above the $700 level could move the price in a bullish zone.

On the downside, the $600 level holds a lot of importance. If the price fails to hold the $600 level, there could be more losses.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is slowly moving in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level.

Major Support Level – $600

Major Resistance Level – $680

Charts courtesy – SimpleFX

Published at Sun, 08 Apr 2018 04:08:43 +0000

Analysis

October 30, 2017

Bitcoins & Gravy Episode #98: The Worldwide Asset eXchange (WAX): Gaming will never be the same!

On today?’?s show I am privileged to be speaking with Michael Maloney, the Solution Architect for WAX – the Worldwide Asset eXchange. Wax is quite literally a game changer . . . read on . . .

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CREDITS & VALUABLE LINKS:

www.WaxToken.com

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http://store.steampowered.com/

http://diaryofafreelancetranscriptionist.com

TRANSCRIPTIONS:Great news listeners! Our transcription page is now live on the website thanks to the continuing hard work of one of our loyal listeners who is also a consultant to the show.These Professional transcriptions are provided each week by one of our fans who can be found at:http://diaryofafreelancetranscriptionist.com

Ode To Satoshi

Lead Vocal, Harmony Vocals, Harmonica, Snare Drum: John BarrettHarmony vocals: John Barrett, Connie Sinclair and Lij ShawGuitar: Jonathan BrownMandolin: Ben MillerBass Guitar: Michael Rinne

Initial tracks recorded by Mark Thornton of Sidekick Sound Studios, Madison, TN. All other tracks Recorded, Mixed and Mastered at The Toy Box Studio, Nashville, TennesseeEngineer: Lij Shaw. Assistant to engineer: Don ?’?œThe Don?’ BatesProduced by John Barrett & Elijah ?’?œLij?’ Shaw

Special thanks to Alan Baird for his dobro, guitar and mandolin playing on many of the shows. Now that?’?s some pickin man! Thanks also to Alex Munoz Guijarro for his excellent pedal steel playing on many of our shows.

Interviews for this episode were recorded and edited by John Barrett at The Tree House Studio – Nashville, Tennessee. All shows are produced by John Barrett with the moral support of his trusty sidekick Maxwell Rascalnikov CoyoTe Rex, aka Max.

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And if you don?’?t feel like contacting me, just kick back, relax and enjoy the show.I hope you enjoy listening to my guests as much as I enjoy talking with them!

Bitcoin Cash Price Weekly Analysis – Can BCH/USD Hold $600?

Key Points

bitcoin Cash Price Support

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Bitcoins & Gravy Episode #98: The Worldwide Asset eXchange (WAX): Gaming will never be the same!

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