Bitcoin, Ripple, Bitcoin Cash and Ethereum

21. September 2018

The Bitcoin price on the 1-hour chart is still in a downward trend and is floating within a bearish trend line
Technical indicators indicate that the sell might continue.
The Bitcoin price is showing bearish momentum and may be under more selling pressure. Furthermore, another 1,000 Bitcoin was moved today on Mt Gox’s account.

Technical Indicators Signals

The 100 SMA is below the longer-term level of 200 SMA on the 1-hour chart, signaling that the path of least resistance to the downside is taking place. This suggests that the downtrend will continue. The gap between the moving averages is also widening, reflecting the sell momentum. The RSI is at the 50 level and signals a relatively balanced momentum between buyer and seller.

Bitcoin Chart from

TradingViewApparently last week’s news wasn’t strong enough to push the Bitcoin price above $10,000. We have already reported that the Mt. Gox accounts have moved, have moved and have contributed to the sellout. In addition, the largest South Korean stock exchange, Upbit, has been audited by local authorities. While the FED published a report in which the fall in prices since December 2017 is due to the introduction of the Bitcoin futures.

Bitcoin Cash Price Highlights

Bitcoin Cash Recently Recovered but Could Not Break the $1,500 Resistance
There was a breach below a triangle pattern on the hourly chart with support at $1,450 an ounce.
BCH could fall towards the support levels of $1,380 and $1,360.
BCH could drop further if support levels are breached.

Technical Indicators Signals

The weekend saw a slight rally as Bitcoin Cash moved above the $1,450 resistance. However, BCH was unable to overcome the resistance at $1,500 an ounce, which previously served as a support zone. In addition, the 100-hour SMA, currently at $1,490 an ounce, was another major hurdle for buyers. During the slide, there was a breach below a short-term triangular pattern with support at $1,450 on the hourly chart. Bitcoin Cash could further decline if the price falls below the next large supports of $1,380 and $1,360.

#Bitcoin Price Highlights