Bitcoin Cash technical analysis: BCH/USD bears smash out from bearish flag structure
|- Bitcoin Cash price is trading in the red, with losses of 3.05% the session on Thursday.
- BCH/USD bears have forced their way out of a bearish flag structure, leaving the door open to further selling pressure.
- The price must hold the retest or be forced back within the narrow range and be subject to further downside.
BCH/USD daily chart
The bears remain firmly in control of the trend, as the price consolidates, another drop may be on the cards.
BCH/USD 60-minute chart
A breakout from the bearish flag via the 60-minute puts the $200 price at risk.
Spot rate: 238.74
Relative change: -3.05%
High: 229.06
Low: 217.04
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.