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Bitcoin Cash technical analysis: BCH/USD bulls are struggling to break down $500

  • Bitcoin Cash price on Monday in the second half of the session is nursing losses of 0.25%.  
  • BCH/USD bears have managed to regain control for now, after a decent push higher over the weekend. 
  • There is a chunky amount of supply seen heading into the psychological $500 price territory. 
Bitcoin Cash technical analysis: BCH/USD bulls are struggling to break down $500
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 472.77

Relative change:      -0.25%

High:                        476.84

Low:                         458.96

BCH/USD 60-minute chart

  • There is the prospect of further upside pressure, as price moves within a bullish penannt structure via the 60-minute chart view. 

BCH/USD daily chart

  • BCH/USD is having some difficulty breaking down the big $500 price mark, losing ground following the rejection. 

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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