Ken Chigbo
Independent Analyst
- BCH/USD under the bears control heading into hard-fork, Thursday 15th November.
- Division remains at large between Bitcoin Cash ABC and Bitcoin Cash SV 2.
Bitcoin Cash price nursing steeps losses of over 14% in the late part of Wednesday. Buyers firmly defending the $400 mark for now. $410 has provided large comfort for BCH/USD several times in the last two months. This area coming to the rescue in September and October.
BCH/USD selling pressure seen ahead of the anticipated Bitcoin Cash hard fork. Bitcoin Cash ABC and Bitcoin Cash SV 2 supporters via the communities are expressing how much of a divide there is, between the two. Arguing very much around the implementation, and which is a better representation of Satoshi Nakomoto’s original vision.
Technically, as mentioned above the $410-400 area is huge. A breach here could send the price further free falling to $300. BCH/USD has been supported here during the downtrend in September and October, proving to find strong buying interest.
BCH/USD daily chart
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