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Bitcoin Cash Price Forecast: BCH/USD is edging towards another drop

  • Bitcoin Cash price is trading in the red, with losses of 1.25% in the second half of the session.
  • BCH/USD price action is sitting underneath a breached bear flag. 
  • A retest of the March low area down at $140 is the next major downside target. 
Bitcoin Cash Price Forecast: BCH/USD is edging towards another drop
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The price has been consolidating after the harsh selling between February - March, it appears this consolidation is gearing up for a resumption south. 

BCH/USD 60-minute chart

A range block formation is viewable via the 60-minute chart view. The upside is capped at $228, down at $221. A breakout and retest are at present in play.

Spot rate:                220.70

Relative change:    -1.20%

High:                        225.37

Low:                         218.70

BCH/USD

Overview
Today last price224.5039
Today Daily Change1.2873
Today Daily Change %0.58
Today daily open223.2166
 
Trends
Daily SMA20232.37
Daily SMA50248.3318
Daily SMA100308.0889
Daily SMA200268.8098
 
Levels
Previous Daily High228.8952
Previous Daily Low220.2197
Previous Weekly High280.3806
Previous Weekly Low224.4072
Previous Monthly High353.0056
Previous Monthly Low135.8533
Daily Fibonacci 38.2%223.5337
Daily Fibonacci 61.8%225.5812
Daily Pivot Point S1219.3258
Daily Pivot Point S2215.435
Daily Pivot Point S3210.6503
Daily Pivot Point R1228.0013
Daily Pivot Point R2232.786
Daily Pivot Point R3236.6768

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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