Purse.io reckons Bitcoin cash better than other altcoins for instant transactions – Lingering BCH/USD dips on flurry of bearish signals

Purse.io reckons Bitcoin cash better than other altcoins for instant transactions – Lingering BCH/USD dips on flurry of bearish signals

Thursday, July 12, 2018 9:11 AM UTC
  • The price of BCHUSD pair is experiencing a major bearish trend. The minor trend of BCHUSD slides through falling wedge formation (refer daily chart).
  • Shooting Star patterns pop up at stiff resistance (at 755.4 and 763.5 levels) coupled with bearish momentum to signal weakness. Consequently, the bears plummet prices below DMAs.
  • While on intermediate trend, the current prices sliding below EMAs, more dips likely on bearish EMA & MACD crossovers as both leading oscillators also substantiate bearish momentum (refer weekly plotting). The strong support is seen at 597.7 levels.
  • The reputed firm Purse.io has officially announced its full BCH integration due to the overwhelming requests from people asking the company to deploy more coin support. Sources say that the development team at Bitcoin Cash is focusing on optimizing for fast day to day transactions. This is the sole reason why Purse chose to implement Bitcoin Cash over cryptocurrencies like Ethereum.

Currency Strength Index: FxWirePro’s hourly BTC spot index has shown -78 (which is bearish), while hourly USD spot index was at 141 (bullish) while articulating at 09:05 GMT.

For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex