The Bitcoin Cash price line sees a continuous uptrend on the price chart for the 23rd of February. The cryptocurrency saw bulls on the 22nd of February and rose from being under the $372.00 mark, towards the $400.00 level. The trading view analyst Bixley believes that the BCHUSD trading pair has encountered a bullish divergence, which can cause a trend repetition in the cryptocurrency’s market.
1-Day Bitcoin Cash Price Analysis (23rd February)
While trading with a day’s range of $373.100000 — $402.480000, the cryptocurrency’s price line can be seen exhibiting an uptrend. The coin has reached and across the $400.00 mark. The cryptocurrency traded near the $400 mark after reaching above $396.00. Currently, the coin trades with a value of $399.820000 US Dollars.
The 20-Day Exponential Moving Average (EMA) can be observed closing at $398.41896, whereas the 50-Day Moving Average (MA) lay at $397.531000. The Relative Strength Index (RSI) lies at 59.02 on the scale for the 23rd of February.
Bitcoin Cash: Predictive Analysis
Bixley highlights that a bullish divergence is formed for the BCHUSD pair and the cryptocurrency is expected to score a further uptrend for itself on the price chart.
The Relative Strenght Index (RSI) is expected to rise. The bullish divergences can help one identify the continuation of price trends. The ongoing bullish divergence can prove to be fruitful for the trading pair. There has been an increased number of divergences in the market lately.