Bitcoin Cash technical analysis: BCH/USD $200 exposed to another potential bear attack
- Bitcoin Cash price is trading in the red, with losses of 0.10% in the second half of the session.
- BCH/USD price action has breached a daily ascending wedge structure.
- The price is running towards its third consecutive session in the red.
BCH/USD daily chart
Critical daily support is holding for now, however at risk of a possible bear attack, which would then exposed $200.
BCH/USD 60-minute chart
Near-term price action is moving within a bearish penannt structure, subject to a potential breakout south.
Spot rate: 215.05
Relative change: -0.10%
High: 216.36
Low: 209.70
.
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.
More from Ken Chigbo
