BCH/USD technical analysis: Trend structure still looks bearish
|- BCH/USD still looks like it is in a downtrend at the moment and 200 could be under threat.
- Below 200 there is a trendline support that could come into play is the bears push price hard.
Bitcoin Cash is making consecutive lower lows and lower highs at the moment as the bearish phase continues.
The BCH/USD price is still under the main value area on the chart where most contracts have been traded.
The relative strength index is still looking depressed and hit the oversold level last week.
Now there seems to be a slight bear flag formation forming ahead of the 200 psychological support level.
Volume has been light on the sell-side but the price is still hitting lower levels.
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