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Bitcoin Cash Price Analysis: BCH/USD giving up $200 could open the door to a strong wave of downside pressure

  • Bitcoin Cash price is trading in the green, with gains of 0.45% in the second half of the session.
  • BCH/USD price action is at risk of another drop given bear flag breakout and retest. 
  • The next major of support should be noted at the psychological $200 mark. 
Bitcoin Cash Price Analysis: BCH/USD giving up $200 could open the door to a strong wave of downside pressure
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The price is running at two consecutive sessions in the red, after a flag rejection. 

BCH/USD 60-minute chart

The price is moving within a tight range, subject to a bearish pennant breakout. 

Spot rate:                220.72

Relative change:    +0.45%

High:                        223.78

Low:                         215.76

BCH/USD

Overview
Today last price220.6841
Today Daily Change1.3268
Today Daily Change %0.60
Today daily open219.3573
 
Trends
Daily SMA20236.1668
Daily SMA50237.3229
Daily SMA100306.8944
Daily SMA200268.9837
 
Levels
Previous Daily High238.6694
Previous Daily Low215.811
Previous Weekly High245.5439
Previous Weekly Low206.3545
Previous Monthly High353.0056
Previous Monthly Low135.8533
Daily Fibonacci 38.2%224.5429
Daily Fibonacci 61.8%229.9375
Daily Pivot Point S1210.5557
Daily Pivot Point S2201.7541
Daily Pivot Point S3187.6972
Daily Pivot Point R1233.4142
Daily Pivot Point R2247.471
Daily Pivot Point R3256.2726

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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