#Bitcoin Cash Price Analysis: BCH/USD Potential Countertrend Bounce

Neutral #Bitcoin Cash Price Analysis: BCH/USD Potential Countertrend Bounce

Bitcoin Cash is still trending lower inside its descending channel on the 4-hour time frame and is approaching support. A bounce might take place if buyers defend this level, but another move lower could spur a steeper slide.

The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This suggests that support is more likely to hold than to break. If so, Bitcoin Cash could find its way back up to the channel top around $500 or the mid-channel area of interest and former near-term support at $400.

Stochastic is also dipping into the oversold region to signal that bearish pressure is fading. Turning higher could allow bullish momentum to return and support levels to hold. Volume has ticked lower, though, and might remain so as the Thanksgiving holidays approach.

Bitcoin Cash has been on the decline as the hard fork has spurred a "mining war" while the community struggles to reach a consensus on which version to support. This has spilled over to other cryptocurrencies and continues to keep a lid on price gains.

According to Roger Ver, Bitcoin ABC is ahead in the hash war versus Bitcoin SV by 53.5% in terms of Proof of Work. In a video, he stated:

The actions taken by BSC are opposite to how cryptocurrencies should function. Claiming you are Satoshi and then threatening to sell everything to destroy the cryptocurrency is a lot like a kid who just lost a basketball game and walks away with the ball.

Meanwhile, some exchanges have expressed support for either or both versions while stating risks involved, which likely explains the low volume as investors are holding out for more clarity. For instance, a post on Kraken states:

Bitcoin SV does NOT meet Kraken's usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of.

Images courtesy of TradingView

11/20/2018 / 10:00:51 Source: livebitcoinnews

Altcoin News | News | Trading | BCH | bchusd | Bitcoin Cash | | BTC|Trading|Market
BTC
1 BTC=$3,590.90
XRP
1 XRP=$0.3393
ETH
1 ETH=$96.21
XUC
1 XUC=$2.17
EOS
1 EOS=$2.58
BCH
1 BCH=$102.47

News Feed 50

Cointelegraph Neutral - Bitcoin Payment Processor Closes Seed Investment Round Backed by Tim Draper read more.
12/18/2018 / 22:40:00
Coindesk Neutral - Blythe Masters, CEO of Blockchain Startup Digital Asset, Is Stepping Down read more.
12/18/2018 / 22:31:14
Ccn Neutral - Wanchain 3.0 Adds Loopring Enabling On-Chain Decentralized Trading read more.
12/18/2018 / 22:19:57
Bitcoinist Neutral - Binance CEO Says ‘It Doesn’t Have to Be a Competition’ With Coinbase read more.
12/18/2018 / 22:00:09
Cointelegraph Neutral - Gaming Giant Atari to Launch ‘Blockchain Versions’ of Two Popular Games read more.
12/18/2018 / 22:00:00
Coinspeaker Neutral - Maltese Blockchain Bank Set to Start Operations by Mid-2019 read more.
12/18/2018 / 21:59:43
Cointelegraph Neutral - Russian Region Conducts Blockchain Election With 40K Participants read more.
12/18/2018 / 21:45:00
Newsbtc Neutral - Bitcoin Is Here to Stay: Blockstream Satellite Expansion Makes Sure of It read more.
12/18/2018 / 21:30:37
Cointelegraph Neutral - Pro-Bitcoin Official in the White House: What We Know About Trump’s New Chief Of Staff read more.
12/18/2018 / 21:20:00
Ccn Neutral - Binance Labs Launches 8 Blockchain Startups read more.
12/18/2018 / 21:16:31
Newsbtc Neutral - Novogratz: Interest Left Crypto for Macro, But Bitcoin Will Emerge As Store of Value read more.
12/18/2018 / 21:02:27
Bitcoin.Com Neutral - Cointext Rolls Out Mobile BCH Services in Bangladesh, Now Services 38 Countries read more.
12/18/2018 / 20:55:03
Cointelegraph Neutral - Korean Gov’t Pilots Blockchain for Logistics Innovation in Country’s Largest Port read more.
12/18/2018 / 20:54:00
Cryptoinsider Neutral - VeChain: Supply chain management protocol for counterfeit prevention read more.
12/18/2018 / 20:43:28
Coindesk Neutral - Overstock’s Medici Acquires Digital Tokens Representing Startup Equity Shares read more.
12/18/2018 / 20:41:31
Ccn Neutral - Bull Gone: Bitcoin Price Forming Doji to Signal Potential Trend Reversal read more.
12/18/2018 / 20:21:38
Themerkle Positive - Bitcoin Cash Price Rises to $100 And Overtakes Litecoin read more.
12/18/2018 / 20:00:51
Newsbtc Neutral - Bitcoin Sustains Above $3,500 After Widespread Market Rally read more.
12/18/2018 / 20:00:36
Coindesk Neutral - Tim Draper Invests $1.25 Million in Bitcoin Payments Processor OpenNode read more.
12/18/2018 / 20:00:06
Cryptoglobe Neutral - The Week: Stablecoin Basis Folds, Revolut Wins Banking License, Swiss Crypto Exchange Launching read more.
12/18/2018 / 20:00:00
Ccn Neutral - Stablecoin Company Tether Ltd. Made $6.6 Million in Interest from January to July 2018, Report Does Not Confirm Full Cash Reserves read more.
12/18/2018 / 19:23:04
Ethnews.Com Neutral - German Bank Tests Blockchain For Development In Africa read more.
12/18/2018 / 19:09:38
Themerkle Neutral - First Major Christmas 2018 Crypto Scam Targets Basic Attention Token read more.
12/18/2018 / 19:02:37
Bitcoinist Neutral - Blockstream Satellite Now Means Most Of The World Can Use Bitcoin Without Internet read more.
12/18/2018 / 19:00:09
Cryptoglobe Neutral - Iran Minister Indicates Support for Blockchain, Both Public and Private Uses read more.
12/18/2018 / 19:00:00
Ccn Neutral - Atari Partners With Startup to Make Blockchain Versions of Popular Titles like Roller Coaster Tycoon read more.
12/18/2018 / 18:56:55
Cointelegraph Neutral - Israel: Financial Services Firm GMT Joins RippleNet read more.
12/18/2018 / 18:52:00
Cryptopotato Neutral - EOS Block Producers Are in Risk of Bankruptcy Despite The Recent 25% Price Gain read more.
12/18/2018 / 18:34:32
Newsbtc Negative - Bitcoin Scam Alert: Criminals Demand BTC Payment to Call Off Hit Man read more.
12/18/2018 / 18:30:39
Ccn Neutral - Education The Biggest Barrier Preventing Online Investors From Purchasing Cryptocurrency read more.
12/18/2018 / 18:23:47
Cointelegraph Neutral - Belgium's Financial Watchdog Updates Crypto Scam Blacklist to Total 113 Sites read more.
12/18/2018 / 18:22:00
Cryptoglobe Neutral - BitMEX Trading Volume Way Down After Supports Broken read more.
12/18/2018 / 18:00:00
Coinspeaker Neutral - 550,000+ Hotels in 210 Countries Can Now be Booked with XRP read more.
12/18/2018 / 17:59:51
Cointelegraph Neutral - A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying in Now read more.
12/18/2018 / 17:59:00
Themerkle Neutral - Institutional Investors No Longer Interested in Bitcoin: JP Morgan read more.
12/18/2018 / 17:41:35
Blokt Neutral - Japan’s New Crypto Regulation Draft Report Is Ready read more.
12/18/2018 / 17:29:23
Trustnodes Neutral - ICOs Now Trading on Exchanges With Investors’ ETH read more.
12/18/2018 / 17:28:21
Coinnounce Neutral - Bitcoin institutional adoption rising: BTC price analysis read more.
12/18/2018 / 17:24:41
Newsbtc Neutral - Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions read more.
12/18/2018 / 17:01:42
Blokt Neutral - NewEconoLab’s NeoRay Will Make NEO Smart Contract Development Easier read more.
12/18/2018 / 16:59:35
Financemagnates Neutral - eToro Survey Finds Huge Demand for Cryptocurrency Education read more.
12/18/2018 / 16:59:02
Bitcoin.Com Neutral - Transnistria Welcomes Crypto Miners, Plans to Expand the Industry read more.
12/18/2018 / 16:55:50
Ccn Neutral - Bitcoin Bear Market Is Scaring Off Institutional Investors, Claims JPMorgan read more.
12/18/2018 / 16:54:56
Coinspeaker Neutral - Basis Shutting Down Due to Regulatory Pressure read more.
12/18/2018 / 16:54:31
Ethnews.Com Neutral - Daily Byte: Tuesday, December 18, 2018 read more.
12/18/2018 / 16:43:07
Blokt Neutral - AlterVerse Will Adopt Enjin Blockchain for All of Its 17 Gaming Worlds read more.
12/18/2018 / 16:29:35
Cryptopotato Neutral - Crypto Market Update Dec.18: One Year Passed Since Bitcoin’s ATH. Following The Correction, What’s Next? read more.
12/18/2018 / 16:29:15
Cryptoinsider Neutral - ‘Proof of Keys’ is coming, but what is it? read more.
12/18/2018 / 16:26:28
Blokt Neutral - Dogecoin [DOGE] Exits Trading Range With 19% Surge read more.
12/18/2018 / 16:09:19
Ccn Neutral - Global Debt Hits $184 Trillion and 11.4% of it is From the US: Big Bubble? read more.
12/18/2018 / 16:02:57
Negative
4.1%
Neutral
94.5%
Positive
1.1%
Mixed
0.2%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.