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Bitcoin Cash Price Analysis: BCH/USD deadly weekly evening star proving to be a problem

  • Bitcoin Cash price is trading in the green, with gains of 1.75% in the second half of the session.
  • BCH/USD has lost complete upside momentum since topping just shy of $500. 
  • A critical daily area of demand can be seen tracking from $270-50. 
Bitcoin Cash Price Analysis: BCH/USD deadly weekly evening star proving to be a problem
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

The week is heading for a harsh weekly closure in the red, following from last week’s evening star formation. 

BCH/USD daily chart

A breakout and retest have been observed via the daily of a critical former acting support trend line. 

Spot rate:                 377.97 

Relative change:     +1.70%

High:                         383.78

Low:                          367.17

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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