Bitcoin Cash Technical Analysis: BCH/USD bears aim for $230 psychological level

The bears were in cruise control this Monday.
BCH/USD looks to drop below red Ichimoku cloud.
The MACD shows decreasing bullish momentum.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bears dominated Monday and took the price down from 237.64 to $230.25. The bears aim to take the price below the $230 psychological level and the red Ichimoku cloud. The MACD shows decreasing bullish momentum.

Support and Resistance

The bears will want to conquer support at $229.89 (SMA 20), $225.35 and $220.20 to continue the downward momentum. On the upside, strong resistance lies at $232.85, $237.71 (SMA 50) and $240.60.

Key levels

BCH/USD

Overview
Today last price	230.7897
Today Daily Change	-6.7184
Today Daily Change %	-2.83
Today daily open	237.5081

Trends
Daily SMA20	230.4072
Daily SMA50	237.4865
Daily SMA100	239.1934
Daily SMA200	271.5692

Levels
Previous Daily High	239.2576
Previous Daily Low	232.2901
Previous Weekly High	246.0454
Previous Weekly Low	215.8202
Previous Monthly High	269.2895
Previous Monthly Low	204.6275
Daily Fibonacci 38.2%	236.596
Daily Fibonacci 61.8%	234.9517
Daily Pivot Point S1	233.4462
Daily Pivot Point S2	229.3844
Daily Pivot Point S3	226.4787
Daily Pivot Point R1	240.4138
Daily Pivot Point R2	243.3195
Daily Pivot Point R3	247.3813

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Bitcoin Cash Technical Analysis: BCH/USD bears aim for $230 psychological level