Bitcoin Cash price GBP rose above £400 on January 19 but the bulls could not sustain the price for a few hours, hence the trade suggested in the previous analysis did not trigger.

The failure to sustain the price above £400, attracted profit-booking from traders on January 20 and the selling intensified on January 21, breaking below the 20-day EMA.

Bitcoin Price GBP_Main
BCH PRICE GBP – HOW TO TRADE BCH/GBP 26TH JANUARY 2021 - UPDATED CONTENT

BITCOIN CASH TRADING – HOW TO TRADE BCH/GBP

The bulls purchased the dip to the 50-day SMA on January 22 but they could not sustain the price above the 20-day EMA on January 25, which suggests the sentiment has turned negative and the bears are selling on relief rallies.

The 20-day EMA has turned down and the RSI is just below the midpoint, suggesting a minor advantage to the bears.

If the bears sink the price below £275, the BCH/GBP pair could drop to the next support at £200.

BCH PRICE GBP – HOW TO TRADE BCH/GBP 19TH JANUARY 2021

Bitcoin Cash has been facing selling in the £380 to £400 resistance zone but has been finding buying support near the 20-day EMA. This is a positive sign as it suggests traders are accumulating at lower levels.

If the bulls can drive the price above £400, the BCH/GBP pair could rally to £445 and then to £495. The upsloping moving averages and the RSI above 60 suggest the path of least resistance is to the upside.

BITCOIN CASH TRADING – HOW TO TRADE BCH/GBP

Bitcoin cash price GBP_BCH

Therefore, traders can buy after the price sustains above £400 for a few hours. The stop-loss for the trade can be trailed below the 20-day EMA.

This bullish assumption will invalidate if the price turns down from the overhead resistance and plummets below the 20-day EMA. Such a move could pull the price down to the £275 support.

BCH PRICE GBP – HOW TO TRADE BCH/GBP 12TH JANUARY 2021

 

 

 

Bitcoin cash price GBP has witnessed many ups, as well as downs that have allowed traders to earn a profit through the trading of the cryptocurrency.

The BCH/GBP pair keeps fluctuating now and then, and it is the job of the traders to enter the market at the right time and make profits.  Here, learn how Bitcoin Cash Price, GBP value keeps fluctuating and how to trade BCH/GBP.

Bitcoin Cash

The Bitcoin cash price GBP pair is one of the most commonly traded pairs. Currently, the Bitcoin Cash to GBP exchange volume stands at $2 596 229,95.

BCH, as such, was created after a hard fork released in August 2017. The cryptocurrency is Bitcoin’s fork version and aims to boost the size of the bitcoin block to 8MB. During the hard fork, people who owned bitcoin also became the owner of BCH units. In August 2017, Bitcoin Cash started trading at around $250, whereas Bitcoin traded at around $2,800. On the 16th of November, 2018, Bitcoin Cash was again hard forked and further divided into Bitcoin SV and Bitcoin ABC.

GBP, on the other hand, is the UK’s official fiat currency and is widely traded in the financial market.

Trading Bitcoin cash price GBP

To trade crypto and forex pair, traders must first compare the base, as well as the quote currency. Also, traders must keep a track of the volatility of both the currencies. Remember, volatility is all about how slow or fast trading values change. Both crypto and forex market is highly volatile, given that several currencies are involved. Both Bitcoin Cash and GBP are two of the strongest global currencies. This makes it a highly stable pair and one of the major reasons why the Bitcoin cash price GBP pair is traded heavily.

When trading fiat and cryptocurrency, traders must learn to keep a track of the economic news and developments. This way, they won’t miss any event, which could result in a massive price change. This is applicable for the BCH/GBP pair too. Thus, traders should not miss any important updates, including those related to capital input, monetary policies, inflation, capital withdrawals, etc. The short and long-term value of the currencies is influenced by economic news and announcements. Therefore, one should monitor the rates daily as it influences the market trends and decisions.

Key Technical points when trading bch/gbp

GBP’s rate continues to drop and rise owing to several macroeconomic factors such as economic growth, interest rates, and monetary sentiments as well as policies. Any uncertainties or economic downturn can result in a decline in the price of the GBP (Pound Sterling). However, since GBP is a fiat currency, the economic factors and geopolitical conditions that impact the price of the fiat currencies do not impact BCH. Given that BCH’s volatility is way higher in comparison to the GBP, traders must learn to remain calm when volatility is high for a short period. This is because BCH’s price usually rises or drops by 10% or more on any given day or for a week or more.

BITCOIN CASH TRADING – HOW TO TRADE BCH/GBP

When reviewing our Cryptocurrency technical analysis of Bitcoin Cash it highlights the Bitcoin cash price GBP had been stuck in the bottom half of the £160–£400 range for the past many months.

The bulls pushed the Bitcoin cash price GBP above the £275 overhead resistance on January 3, which opened the gates for a rally to the top of the large range at £380–£400.

However, as with other major cryptocurrencies, the Bitcoin cash price GBP pair also witnessed aggressive selling at higher levels on January 4. The bears dragged the price down to the breakout level at £275 but the bulls purchased this dip aggressively, which is a positive sign.

If the bulls can sustain the price above £320, the pair may attempt to rise to the target objective at £380–£400. On the contrary, if the bears sink the Bitcoin cash price GBP below £275, the pair may drop to the 20-day EMA.

A break below this support will suggest that the current breakout was a bull trap. That could keep the pair range-bound for a few more days.

 

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.