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Bitcoin Cash technical analysis: BCH/USD price action continues to point at vulnerabilities

  • Bitcoin Cash price in the second half of the day on Wednesday is trading in the red down just some 0.11%.
  • BCH/USD price action remains within consolidation mode, within a rising wedge structure. 
  • Given current price behaviour, there are still somewhat vulnerabilities to the downside. 
Bitcoin Cash technical analysis: BCH/USD price action continues to point at vulnerabilities
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  335.00

Relative change:      -0.10%

High:                         346.46

Low:                          330.09

BCH/USD 60-minute chart

  • Critical near-term demand zone preventing the price from a free-fall, seen at $330. 

BCH/USD daily chart

  • Price action is moving within a rising wedge structure, remaining subject to potential downside. 

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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