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Bitcoin Cash Price Analysis: BCH/USD at risk of giving up the critical $200 mark

  • Bitcoin Cash price is trading in the red, with losses of 3.25% in the second half of the session.
  • BCH/USD failed to break above a barrier at the range of $225-50, which is very bear favourable. 
  • The next major support level should be noted at the psychological $200 mark.
Bitcoin Cash Price Analysis: BCH/USD at risk of giving up the critical $200 mark
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action via the daily chart view is moving within a narrowing range block formation.

BCH/USD 60-minute chart

The price broke below a critical range block of support, leaving the door open to a big $200 test from the bears.

Spot rate:                223.88

Relative change:    -3.25%

High:                        223.75

Low:                         211.01

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
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