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Bitcoin Cash Price Forecast: BCH/USD bears are regaining control

  • Bitcoin Cash price is trading in the red, with losses of 5.45% in the second half of the session.
  • BCH/USD bulls failed to break down critical supply at the range of $275-280.
  • The next major area of support should now be noted at the psychological $200 mark.
Bitcoin Cash Price Forecast: BCH/USD bears are regaining control
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

A deadly evening star formation can be observed via the weekly chart view, suggesting a change in trend. 

BCH/USD daily chart

The price has broken out to the downside from a bearish flag structure, leaving the door open to greater moves south. 

Spot rate:                220.97

Relative change:    -5.45%

High:                        233.56

Low:                         215.94

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.

More from Ken Chigbo
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