{"id":4879,"date":"2017-11-13T10:54:00","date_gmt":"2017-11-13T10:54:00","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=4879"},"modified":"2017-11-23T18:11:09","modified_gmt":"2017-11-23T18:11:09","slug":"bitcoin-cash-price-analysis-can-bchusd-hold-1000","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/bitcoin-cash-price-analysis-can-bchusd-hold-1000\/","title":{"rendered":"Bitcoin Cash Price Analysis: Can BCH\/USD Hold $1000?"},"content":{"rendered":"<p><em>Bitcoin cash price after trading above the $3000 level against the US Dollar (tethered) found strong offers. BCH\/USD is now holding an important support at $1000.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Bitcoin cash price made a sharp upside move above the $3000 level against the US Dollar (tethered) before trimming all gains.<\/li>\n<li>There is a major bullish trend line forming with support at $1000 on the 4-hours chart of the BCH\/USD pair (data feed from Poloniex).<\/li>\n<li>The pair must stay above the $1000 level if it has to move back higher in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Cash Price Chart Analysis<\/h2>\n<p>There were nasty gains in bitcoin cash price during the past 5-6 sessions toward $3000 against the US Dollar (tethered, data feed by Poloniex). The price traded to a new all-time high of $3121 before it faced a strong sell wall.<\/p>\n<p>Later, the price declined sharply and trimmed almost all of its gains by moving below $2000 and $1500. There was a break of the 50% Fibonacci retracement level of the last wave up from the $560 low to $3121 high.<\/p>\n<figure id=\"attachment_4880\" aria-describedby=\"caption-attachment-4880\" style=\"width: 1824px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart.png\"><img decoding=\"async\" class=\"wp-image-4880 size-full\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart.png\" alt=\"bitcoin cash price chart\" width=\"1824\" height=\"931\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart.png 1824w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart-770x393.png 770w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart-1536x784.png 1536w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart-293x150.png 293w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart-300x153.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2017\/11\/Bitcoin_Cash_Price_Chart-1024x523.png 1024w\" sizes=\"(max-width: 1824px) 100vw, 1824px\" \/><\/a><figcaption id=\"caption-attachment-4880\" class=\"wp-caption-text\">Cryptocurrency charts and prices provided by <a href=\"https:\/\/www.tradingview.com\/markets\/cryptocurrencies\/\" rel=\"nofollow noopener\" target=\"_blank\">TradingView<\/a><\/figcaption><\/figure>\n<p>There was a test of a major bullish trend line with support at $1000 on the 4-hours chart of the BCH\/USD pair. The pair held the trend line support, but struggling to remain above the 76.4% Fibonacci retracement level of the last wave up from the $560 low to $3121 high.<\/p>\n<p>Therefore, the trend line support holds a lot of importance for more declines below $1000. As long as BCH\/USD is above $1000, there is a chance of it recovering back toward $1400 or $1500.<\/p>\n<p>On the other hand, if it fails to hold $1000, it could trade toward the $800 support area. In the mentioned scenario, there is even a possibility that the price might test the $650 support as well.<\/p>\n<p>The overall trend is now bearish unless BCH moves back above $1500. The 4-hour RSI for BCH\/USD is now below 50 and heading south, which means more losses are possible.<\/p>\n<p><em>Trade safe traders and do not overtrade!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin cash price after trading above the $3000 level against the US Dollar (tethered) found strong offers. BCH\/USD is now holding an important support at $1000. Key Talking Points Bitcoin cash price made a sharp upside move above the $3000 level against the US Dollar (tethered) before trimming all gains. There is a major bullish trend line forming with support at $1000 on the 4-hours chart of the BCH\/USD pair (data feed from Poloniex). The pair must stay above the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[825],"tags":[188,6976,111],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/4879"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=4879"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/4879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/4880"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=4879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=4879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=4879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}