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Bitcoin Cash Technical Analysis: BCH/USD big $200 retest

  • Bitcoin Cash price is trading in the green, with gains of 7.80% in the second half of the session.
  • BCH/USD bulls are making a late push in the session on Friday, after starting on the back foot. 
  • The price has been falling consecutively for going on eight weeks, with no sign of a change, as rallies continue to be sold. 
Bitcoin Cash Technical Analysis: BCH/USD big $200 retest
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

Weekly price action smashed through the $200 mark, a retest is being observed in the current week, however, so far only resulting in a rejection. 

BCH/USD daily chart

Price action is resting a breached daily pennant structure, a break and closure above would be critical for the bulls. 

Spot rate:                   199.91

Relative change:      +7.80%

High:                          203.68

Low:                           186.58              

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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