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Bitcoin Cash Price Analysis: BCH/USD bearish technical structures demonstrate near-term vulnerabilities remain

  • Bitcoin Cash price is trading in the red, with losses of 4.50% in the second half of the session.
  • BCH/USD bulls are giving back the strong advance of Tuesday, further cooling after such a dominant push higher. 
  • Critical near-term support eyed at the range of $310-300 price range.
Bitcoin Cash Price Analysis: BCH/USD bearish technical structures demonstrate near-term vulnerabilities remain
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The price is running towards its second consecutive session in the red, as the bulls give up momentum. 

BCH/USD 15-minute chart

Price action via the near-term view is moving within a bearish flag structure, subject to a breach.

Spot rate:                   323.25

Relative change:       -4.50%

High:                           342.41

Low:                            309.56

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.

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