Bitcoin Cash Price Analysis: BCH/USD heading for a potential harsh fall to retest breached channel


  • Bitcoin Cash price is trading in the red, with losses of 8.50% in the second half of the session.
  • BCH/USD price action has been largely narrowing within a tight range, the bears have forced a breach.
  • The range was; the high at $360 down to a low of $330 via the daily.  

 

BCH/USD daily chart

The price via the daily chart view is moving within a narrowing pennant structure. However, this looking increasingly likely to fail, with the bears pressing for a breakout to the downside. 


 

BCH/USD 60-minute chart

The price via the 60-minute chart view was moving within a narrowing range block formation from 18 January. Market bears have managed to smash out to the downside from this, allowing for further selling pressure. 

 

Spot rate:                   321.18

Relative change:       -8.50%

High:                           348.98

Low:                            315.25    

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

More Bitcoin News

Maker Price Analysis: MKR whales could be getting ready to dump again at $470

Maker has been one of the most affected coins after the last crypto crash, losing around 50% of its value in practically one month. MKR is currently ranked 37th with a market capitalization of $500 million.

More Cryptocurrencies News

Kyber Network Price Prediction: KNC could be on the verge of a 50% correction

Kyber Network was trading as high as $2.04 on August 14 but plummeted to $1.04 just 22 days later, a 48% loss that clearly shows bears are in full control in the short and mid-terms.

More Cryptocurrencies News

Aave Price Analysis: LEND bulls will have to fight for $0.65 to regain control

Aave's LEND is the 29th-largest digital asset with the current market capitalization of $751 million and an average daily trading volume of $167 million. The token is most actively traded on Binance. 

More Crypto News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

Read the weekly forecast

BTC

ETH

XRP