Bitcoin Cash price analysis: BCH/USD fails to firmly break back above $1000 in its comeback
|- BCH/USD sets out a bounce back but is cut short by the $1000 mark.
- Shift in market sentiment across the board, as seen the bears take a step back for now.
The Bitcoin Cash price has seen a decent recovery during trading on Monday, up over 12% in late trading. This comes as the crypto market wide sentiment sees a shift, following the continuous bearish trend it has been stuck in for some time now.
Bitcoin Cash had been running with losses for two consecutive weeks, in line with the rest of the market, a stubborn trend lower. Market plays have been very cautious since the start of the year mass selloff seen, a lack of buying commitment across the board.
Technically, BCH/USD is moving within a falling wedge on the 4-hour time frame, the price failed to firmly break back above $1000 level, respecting the above trend line as part of the mentioned chart pattern. Support seen at $850 and then $800, should the price drift back lower, after the run into the $1000 barrier.
BCH/USD 4-hour chart
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