Bitcoin Cash rise while Bitcoin fell today
BCHUSD today rose 1.41%, the price appeared to bounce after consolidating near the pinpoint middle band line and forming a bullish candlestick.
Meanwhile other cryptos actually fell, including Bitcoin down 1.07%, Ethereum down 1.02%, BNB down 1.75%, Solana down 2.13%, XRP down 1.11%.
What seems to be trending today is Uniswap rising by 51.86%, this is probably because the Uniswap Foundation is set to launch a Snapshot vote for new proposals on March 1, 2024.
BCHUSD technical analysis
BCHUSD's daily range today is Low 259.50 and High 266.85.
The indicator signal summary shows strongly buy, RSI(14) Buy, STOCH(9,6) Overbought, STOCHRSI(14) Overbought, MACD(12,26) Buy, ADX(14) Buy, Williams %R Overbought, CCI(14) Buy, ATR(14) Less volatility, Highs/Lows(14) Buy, Ultimate Oscillator Buy, ROC Buy, Bull/Bear Power(13) Buy.
Today's Fear and Greed Index fell to level 72 from 73 yesterday, this week it seems that the Fear and Greed Index is tending to decline but has not yet reached the medium level of 50.
On the daily timeframe, BCHUSD is now moving above the middle band line and forming a higher high. Meanwhile, the Bollinger band forms a band that is starting to narrow, indicating decreasing market volatility.
On the other hand, the RSI indicator shows a value of 54, which means the price is above the uptrend level.
In the H1 timeframe, BCHUSD is below the upper band line and appears to be bouncing near the upper band line. Maybe here the upper band becomes dynamic resistance. The Bollinger band appears to expand slightly in this time frame, an indication of increased market volatility.
Meanwhile, the RSI shows that level 53 appears to be away from the overbought zone.
If you look at the short-term H1 timeframe, it seems that BCHUSD may still be moving in a range and may fall again near the lower band line.