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Bitcoin Cash technical analysis: BCH/USD consolidating ahead of further potential falling

  • Bitcoin Cash price is trading in the green, with gains of 0.80% in the second half of the session.
  • BCH/USD price action is moving within a bearish pennant structure, subject to a potential breakout south.
  • The price is attempting to snap a four consecutive session run of losses.
Bitcoin Cash technical analysis: BCH/USD consolidating ahead of further potential falling
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The bears will be eyeing a potential return to the pychological $200 price mark. 

BCH/USD 60-minute chart

Near-term price action is heading for a retest of a breached descending channel structure. 

Spot rate:                 215.05

Relative change:      -0.10%

High:                         220.58

Low:                          202.94

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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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