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Bitcoin Cash technical analysis: BCH/USD despite session gains price action remains vulnerable given bearish daily technical structure

  • Bitcoin Cash price in the second half of Tuesday is trading in the green, up some 4.50%. 
  • BCH/USD price action remains via the daily view despite the gains is stuck within a bearish flag. 
  • Should the noted structure be capitalized on by the bears, then the price could return to pre-2019 bull run levels. 
Bitcoin Cash technical analysis: BCH/USD despite session gains price action remains vulnerable given bearish daily technical structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 343.98

Relative change:      -1.30%

High:                        341.79

Low:                         327.35

BCH/USD

Overview
Today last price344.2233
Today Daily Change15.1606
Today Daily Change %4.61
Today daily open329.0627
 
Trends
Daily SMA20323.5532
Daily SMA50355.3376
Daily SMA100374.3579
Daily SMA200278.9801
Levels
Previous Daily High339.7426
Previous Daily Low325.9675
Previous Weekly High356.4503
Previous Weekly Low307.9263
Previous Monthly High428.8945
Previous Monthly Low255.06
Daily Fibonacci 38.2%331.2296
Daily Fibonacci 61.8%334.4805
Daily Pivot Point S1323.4393
Daily Pivot Point S2317.8158
Daily Pivot Point S3309.6641
Daily Pivot Point R1337.2144
Daily Pivot Point R2345.3661
Daily Pivot Point R3350.9895

BCH/USD daily chart

  • Longer-term price action remains within consolidation mode via the daily, moving within a bearish flag. 

BCH/USD 60-minute chart

  • Price action via the 60-minute chart has broken out to the outside from a bullish flag structure.

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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