Bitcoin Cash Price Analysis: BCH/USD may have one last fall before bull run

Bitcoin Cash price is trading in the green, with gains of 5.50% in the second half of the session.
BCH/USD price action is largely capped by a range at $225-50.
There appears to be a lack of general market commitment, given soft investor sentiment.

Ken Chigbo Independent Analyst

BCH/USD weekly chart

The price closed in the red for the week, as vulnerabilities stack up for another potential drop. Should the bears breakdown the psychological $200 mark, it would likely open the door to another wave of selling.

BCH/USD daily chart

Daily conditions are extremely narrow and have offered little in terms of committed direction, this has been seen for the past ten sessions.

Spot rate: 223.88

Relative change: +5.50%

High: 220.81

Low: 205.54

BCH/USD

Overview
Today last price	217.9037
Today Daily Change	12.3331
Today Daily Change %	6.00
Today daily open	205.5706

Trends
Daily SMA20	207.3303
Daily SMA50	308.2762
Daily SMA100	302.5929
Daily SMA200	273.3407

Levels
Previous Daily High	218.281
Previous Daily Low	204.4384
Previous Weekly High	235.4688
Previous Weekly Low	198.4748
Previous Monthly High	496.9345
Previous Monthly Low	299.0373
Daily Fibonacci 38.2%	209.7262
Daily Fibonacci 61.8%	212.9931
Daily Pivot Point S1	200.579
Daily Pivot Point S2	195.5874
Daily Pivot Point S3	186.7364
Daily Pivot Point R1	214.4216
Daily Pivot Point R2	223.2726
Daily Pivot Point R3	228.2642

Author

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.