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Bitcoin Cash Price Forecast: BCH/USD daily bear flag leaves the door open to selling pressure

  • Bitcoin Cash price is trading in the green, with gains 0.95% in the second half of the session.
  • BCH/USD is at risk of testing the critical $200 mark to the downside. 
  • The next major area of support should be then noted at March lows, $140. 
Bitcoin Cash Price Forecast: BCH/USD daily bear flag leaves the door open to selling pressure
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action formed a bearish flag from 13 March up until 8 April, of which the bears forced a breach. 

BCH/USD 60-minute chart

In addition to the bearish daily view, a flag breakout can also be observed via the 60-minute. 

Spot rate:                220.97

Relative change:    +0.95%

High:                        228.89

Low:                         220.21

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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