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Bitcoin Cash technical analysis: BCH/USD $200 exposed to another potential bear attack

  • Bitcoin Cash price is trading in the red, with losses of 0.10% in the second half of the session.
  • BCH/USD price action has breached a daily ascending wedge structure.
  • The price is running towards its third consecutive session in the red.
Bitcoin Cash technical analysis: BCH/USD $200 exposed to another potential bear attack
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Critical daily support is holding for now, however at risk of a possible bear attack, which would then exposed $200. 

BCH/USD 60-minute chart

Near-term price action is moving within a bearish penannt structure, subject to a potential breakout south. 

Spot rate:                 215.05

Relative change:      -0.10%

High:                         216.36

Low:                          209.70

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Author

Ken Chigbo

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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