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Bitcoin Cash technical analysis: BCH/USD $300 given up with $250 now a possible target for bears

  • Bitcoin Cash price on Wednesday is trading in negative territory by 7%.
  • BCH/USD is extending to the downside following a bearish flag structure breach.
  • The next major zone of support is eyed down at the $250 price territory.
Bitcoin Cash technical analysis: BCH/USD $300 given up with $250 now a possible target for bears
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  291.10

Relative change:      -7.70%

High:                         316.14

Low:                          289.77

BCH/USD daily chart

  • The next major daily area of support is eyed down at $250, last traded here on 16th July. 

BCH/USD 60-minute chart

  • Bears are hunting for a wick fill of the 15th August spike to the downside. 

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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