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Bitcoin Cash technical analysis: BCH/USD bears pressing for big bearish flag breakout

  • Bitcoin Cash price is trading in the red, with losses of 1.20% in the second half of the session.
  • BCH/USD is pressing to the downside looking to breakout of a bearish flag pattern.
  • The critical daily support is eyed at $200, a breach could be damaging. 
Bitcoin Cash technical analysis: BCH/USD bears pressing for big bearish flag breakout
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The bears are on the way to a potential critical range breakout, the low of $200 to the high up at $225. 

BCH/USD 60-minute chart

Near-term price action has smashed out to the downside from a bearish pennant formation.

Spot rate:                 206.09

Relative change:      -1.15%

High:                          209.00

Low:                           203.71


 

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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