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GBP/USD

XAU/USD

Bitcoin Cash Price Forecast: BCH/USD is edging towards another drop

Bitcoin Cash price is trading in the red, with losses of 1.25% in the second half of the session.
BCH/USD price action is sitting underneath a breached bear flag.
A retest of the March low area down at $140 is the next major downside target.

Ken Chigbo Independent Analyst

BCH/USD daily chart

The price has been consolidating after the harsh selling between February - March, it appears this consolidation is gearing up for a resumption south.

BCH/USD 60-minute chart

A range block formation is viewable via the 60-minute chart view. The upside is capped at $228, down at $221. A breakout and retest are at present in play.

Spot rate: 220.70

Relative change: -1.20%

High: 225.37

Low: 218.70

BCH/USD

Overview
Today last price	224.5039
Today Daily Change	1.2873
Today Daily Change %	0.58
Today daily open	223.2166

Trends
Daily SMA20	232.37
Daily SMA50	248.3318
Daily SMA100	308.0889
Daily SMA200	268.8098

Levels
Previous Daily High	228.8952
Previous Daily Low	220.2197
Previous Weekly High	280.3806
Previous Weekly Low	224.4072
Previous Monthly High	353.0056
Previous Monthly Low	135.8533
Daily Fibonacci 38.2%	223.5337
Daily Fibonacci 61.8%	225.5812
Daily Pivot Point S1	219.3258
Daily Pivot Point S2	215.435
Daily Pivot Point S3	210.6503
Daily Pivot Point R1	228.0013
Daily Pivot Point R2	232.786
Daily Pivot Point R3	236.6768

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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BCH/USD daily chart

BCH/USD 60-minute chart

BCH/USD

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