Bitcoin Cash Technical Analysis: BCH/USD bulls need to breakdown $200 territory or remain stuck in mundane range
- Bitcoin Cash price in the latter stages of trading on Wednesday, trading up with minor gains of 0.30%.
- Bulls eyeing extended move to the north, as price briefly consolidates.
BCH/USD 15-minute chart
- Price action is narrowing over the shorter time frame, subject to a potential extended move higher.
Spot rate: 163.97
Relative change: +0.31%
High: 166.03
Low: 159.54
Trend: Neutral
Support 1: 151.49, daily pivot point support.
Support 2: 139.44, daily pivot point support.
Support 3: 132.60, daily pivot point support.
Resistance 1: 170.38, daily pivot point resistance.
Resistance 2: 177.22, daily pivot point resistance.
Resistance 3: 189.27, daily pivot point resistance.
BCH/USD 60-minute chart
- The price is supported to the upside, by an ascending trend line via the 60-minute chart view.
BCH/USD daily chart
- Over the last eight sessions the price has failed to break out of the mundane trading range.
Author
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.
