TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Cash technical analysis: BCH/USD bears force critical flag breakout

  • Bitcoin Cash price is trading in the red, with losses of 0.80% in the second half of the session.
  • BCH/USD bears have forced a daily breakout of a bearish flag structure.
  • The critical daily support is eyed at $200, a breach could be damaging. 
Bitcoin Cash technical analysis: BCH/USD bears force critical flag breakout
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The bears have made a step towards a breakout of a narrowing range, allowing room for further downside pressure. 

BCH/USD 60-minute chart

Near-term price action is consolidating, a high up at $209 with support at $204, $5 range, ahead of next committed move. 

Spot rate:                 205.48

Relative change:      -0.80%

High:                          208.15

Low:                           204.02

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.

More from Ken Chigbo
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP pull back amid persistent ETF outflows

Crypto Today: Bitcoin, Ethereum, XRP pull back amid persistent ETF outflows

The cryptocurrency market is experiencing widespread weakness on Monday, with Bitcoin sliding under the $63,000 mark amid ongoing risk aversion. Major altcoins, including Ethereum and Ripple, are following suit.

NEAR Protocol Price Forecast: NEAR loses steam near key resistance, raising downside risks

NEAR Protocol Price Forecast: NEAR loses steam near key resistance, raising downside risks

NEAR Protocol faces weakness on Monday, reversing from a key overhead trendline near $2.00. Retail demand is easing, with NEAR futures Open Interest and funding rates waning, which sparked the previous week’s rebound.

Bitcoin faces rejection at $64,000 amid persistent ETF outflows

Bitcoin faces rejection at $64,000 amid persistent ETF outflows

Bitcoin is struggling below $64,000 on Monday after recovering more than 6% over the previous week. Institutional selling continued, with spot ETFs recording net outflows of over $520 million last week, marking the eighth consecutive week of withdrawals.

Pi Network: Steady decline risks a record low despite easing market drag

Pi Network: Steady decline risks a record low despite easing market drag

PI price edges below $0.1150 on Monday, extending its losses for the third straight day. Data shows an intense bearish bias among traders holding short-sided positions, reflecting weak retail support despite easing downside pressure across the crypto market.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.