Bitcoin Cash Price Analysis: BCH/USD on the verge of another breakout
|- Bitcoin Cash is pivotal at $210 while declines towards $200 beckon.
- The resistance at $220 must come out the way for Bitcoin Cash recovery headed for $250.
Bitcoin Cash price action following the resistance at $220 has been mostly lethargic. After opening the session at $211.20, BCH touched $212.36 (intraday high). On the downside, the price brushed shoulders $207.95 but has adjusted $209.52.
The 50 SMA on the 1-hour chart and the 100 SMA are providing immediate support. The RSI in the same 1-hour range is horizontal at 46.51. If the RSI remains in the same course, Bitcoin Cash price sideways trading action will last longer.
On the other hand, if the rising triangle pattern support is broken, BCH could breakdown towards $200. The buy zone between $190 - $200 is likely to remain intact and eventually force a reversal upwards.
BCH/USD 1-hour chart
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