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BCH/USD Price analysis: Underperformer on a green day, waiting for a breakout?

  • BCH gains the least among major cryptos
  • Trendline and falling wedge pattern visible on the daily

Bitcoin Cash the cousin of its larger peer, Bitcoin, barely manages to stay green on a day when all the major cryptocurrencies are flarig up with gains of between 1-6 percent. BCH/USD was marginally up by 0.4 percent on Saturday at $1,065 after three consecutive days of losses through Friday.

Bitcoin cash now has around $1,118 and $1,235 marks while support stands at $960 and $908 levels.

On the intra day 15-minute chart $1,057 acts as a decent support - its 21MA. On the daily chart, there seems to be a falling wedge pattern in the making, confirmation of which could be known once the price crosses past $1,270 mark with volumes - still a far off level for the laggard.

Author

Manoj B Rawal

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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