Bitcoin Cash price analysis: BCH/USD flirting above and below the detrimental $1000 mark
|- Bitcoin Cash down a chunky 5% and flirts with the key $1000 mark.
- Worst run of weekly losses seen since January of this year.
The Bitcoin Cash was seen down a chunky 5% on Friday, like many of its peers, resuming taking the selling pressure, after the brief break on Thursday. Fluctuating with the $1000 level, a clean break could be really inviting for the bears.
BCH/USD is currently within a three-week consecutive run of losses, its worst streak seen since January of this year. The pressure has been on for Bitcoin Cash, since running into the heavy supply zone, which tracks from $1400-1700.
Technically, BCH/USD is still shaping up a head and shoulders pattern formation, as bears target pressing the neckline, this tracks around $750. A breach would open $600 and then further south as low as $300, should he textbook pattern play out. Resistance seen in the near-term at $1300, then between $1400-1700.
BCH/USD weekly chart
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