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Bitcoin Cash $BCHABC Price Outlook: Christmas Rally

@KittyBitcoin logo
December 19 2018 18:20 UTC

 

Bitcoin Cash has gained 33.29% or 34.23 USDT in twenty-four hours. In this Midweek Edition find $BCHABC price action, trend, technicals and more. Or jump right to the Bitcoin Cash $BCHABC Price Outlook.

 

Price Action

The price of $BCHABC has risen over twenty-four hours. The last price at press time is 137.05 USDT. In Binance moderate to heavy volume trading the daily change is 33.29%, or 34.23 USDT:
$BCHABC Price Change
period % USDT
24 hours 33.29 34.23
7 days 41.30 40.06
1 month -40.78 -94.36

News

Trend

trend is UP

The Bitcoin Cash three day trend is up. It was just a short week ago when Bitcoin Cash was on a multi quarter bearish downtrend from its last rally high in early May 2018. The last rally saw $BCHABC cap out at $1,726.54. Bitcoin Cash fell to a low of $74.02 on December 14 2018. It is arising from this multi quarter, yearly, and all time low – on a Christmas bull rally – that $BCHABC registers the phenomenal twenty-four hour change of 33.29% we see today.

[Trend is "up" when the three day price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is slightly bearish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

bchabc-usdt-six-hour-chart-2018-12-19

 

Remarks

The long awaited Christmas rally is underway.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one day chart is strongly bullish. All of the chart hourly periods from one hour to one day register strongly bullish states.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 111.27
25 day 96.81
99 day 133.17

On the six hour chart we see the bullish cross at four in the morning today as the short term EMA(7) moves above the medium term EMA(25). The angle of ascent is poised to cross the long term EMA(99). This is a bullish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the four hour chart is 86.7. This is an overbought state.

On the one day chart the RSI is 55.6 which is a neutral state. The six hour chart is also overbought and we are seeing more than a $5 price pullback as this report is written.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 7.42%. This may exert a bullish influence on Bitcoin Cash today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Bitcoin Cash $BCHABC Price Outlook

bullish

  • the Bitcoin Cash $BCHABC price outlook is bullish
  • if the price finds acceptance at higher levels the immediate resistance prints at $145.00
  • if the price finds acceptance at lower levels the immediate support prints at $109.75
Resistance levels: $145.00 $173 $225

Support levels: $109.75 $79 $74.02

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis period.

 

Disclosure

The author does not hold Bitcoin Cash $BCHABC at the time of writing.

About @KittyBitcoin

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@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

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KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
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