Bitcoin Cash
$1,074.50 -12.24%
BCH · 191w

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin: Price Analysis, September 13

The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

Back in 2015, JPMorgan CEO Jamie Dimon had said that people trading in digital currencies such as Bitcoin were wasting their time. Notwithstanding, the lucky few who wasted their time back then would be sitting on more than 900 percent returns. What a fantastic way to waste time.

Fast forward two years and Dimon has intensified his criticism of Bitcoin, calling it “a fraud” and a bubble “worse than tulip bulbs”. Nevertheless, he doesn’t want to short Bitcoin either, because he is not sure how far the bubble will expand.

Let’s study the charts and try to forecast whether we should buy this correction or stay out of it.


Bitcoin has extended its correction and is currently at the 50-day simple moving average (SMA), which is a crucial support. A break and close below this level is likely to exacerbate selling, which can sink the digital currency to $3363, which is a 50 percent Fibonacci retracement level of the rally from $1752 to $4975.

However, the RSI will enter oversold territory if Bitcoin falls sharply below the 50-day SMA. Three previous oversold readings on the RSI have proven to be an excellent buying opportunity. Hence, it can be risky to short bitcoin at the current levels.

On the other hand, if Bitcoin bounces from the 50-day SMA, it will face resistance at the downtrend line. We shall turn bullish only after Bitcoin stops falling and breaks out of the downtrend line.

At current levels, we should remain neutral on the cryptocurrency, as we don’t find any good setups, either to go long or short.


We were correct in avoiding a trade on Ethereum in our previous analysis. A short trade would have hit our stop loss above $310 and...

Continue on
Recent news
BCH -12.24% · · 8h

Twitter is (Completely) Censoring Bitcoin Cash !!!

I’ll give you 1 BCH if you can show me a personal Twitter account, highlighting #BCH in Twitter’s “For You” suggested cryptocurrencies. Spoiler, you can’t. It’s forbidden, right @jack ?— CryptoKid (@t...
BCH -12.24% · · 10h

CashAccounts Report: may2020

Yesterday, I was contacted by a user on discord who was having problems with the REST API they were using, and later a developer of a wallet having similar problems. The wallet developer w...
BCH -12.24% · · 14h

Bitcoin Cash Animal Rescue

As Bitcoin cash animal rescue, we have started a fundraising campaign through Fundme cash, with which we seek to take the next step as a project born in Bitcoin cash. Since we started with this proj.....
BCH -12.24% · · 22h

A thread about the Tether scandal.. for every 1 USDT there is $0.03 real dollars.. It seems inevitable that at some point in the near future everyone that holds tethers will see all of their holdings go poof. They'll go from being worth 1.0x a dollar to 0.0x a dollar probably in a very short period.

Let's talk about the Tether scandal, why recent disclosures about it are such a big deal, and why it represents a form of systemic risk for the already shady crypto market. (1/) 🧵— Stephen Diehl (@sm...