Price Forecast Report for Bitcoin-cash (BCC) — 5th-6th January 2018

in #crypto2 years ago

Welcome to the Price Forecast Report for Bitcoin-cash (BCC) — 5 January 2018. 

This report researches 4 prominent specialized examination pointers: 

-Moving Average Convergence Divergence 

-Relative Strength Index 

-Aroon Indicator 

-On-Balance Volume

The above pointers are utilized as a part of specialized examination as instruments for estimating the bearing of costs through the investigation of past market information, principally cost and volume. 

They depend on the possibility that the market for purchasing and offering advanced monetary standards isn't proficient and notable costs can be utilized to foresee future value developments, and utilizing these instruments can be favorable to financial specialists and brokers.

Moving Average Convergence Divergence (MACD) 

 Moving average convergence divergence (MACD) is a trend-following  indicator of momentum that illustrates the relationship between two  moving averages of prices. The MACD is estimated by subtracting the  26-day exponential moving average from the 12-day moving average. A  nine-day exponential moving average of the MACD, the "signal line", is  then plotted on top of the MACD, functioning as an identifier for both  buy and sell signals.   The graph below shows the MACD applied to the price of Bitcoin-cash using daily price data for the last 40 days.    

As appeared in the graph over, the MACD is at present underneath the flag line, inferring a bearish flag, demonstrating that it might be an ideal time to offer. 

As per the MACD, a bearish flag recommends that the cost of the benefit is probably going to encounter descending force.

 Aroon Indicator:

 The Aroon indicator can be used to identify trends in digital  currency prices and the likelihood that the trends will reverse. It is  made up of two trend lines: an "Aroon up" line, which measures the  magnitude of the uptrend, and an "Aroon down", which measures the size  of a downtrend. The indicator reports the time it is taking for the  price to reach, from a beginning point, the highest and lowest points  over a given time period, each reported as a percentage of total time.     The graph below shows the Aroon Indicator using the price of Bitcoin-cash over the last 40 days.    The Aroon indicators move above and below the centerline (50) and are  bound between 0 and 100. These three levels can be explained as  follows: When the Aroon-Up is above 50 and the Aroon-Down is below 50,  the bulls have an edge. This indicates a greater propensity for new  x-day highs than lows. The opposite is true for a downtrend. The bears  have an edge when Aroon-Up is below 50 and Aroon-Down is above 50.    In the graph below, the Aroon-Up is below 50 and the Aroon-Down is above 50 indicating neither a bullish or bearish signal. 

On-Balance Volume (OBV) 

 The OBV indicator can be used to measure the positive and negative  movement of volume of a currency relative to its price over time.     The idea is that volume precedes price movement, so if a currency is  experiencing an increasing OBV it is a signal that the level of volume  traded is increasing on upward price moves. Decreases mean that the  security is seeing growing levels of volume on down days.     The graph below shows the OBV applied to the price of Bitcoin-cash using daily price data for the last 40 days.  

Please note that the above indicators can give false trade signals and use of such tools should be treated with caution. Blindly using technical pricing indicators without a general knowledge of fundamentals or an understanding of the currency being analysed is not advisable.

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