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Bitcoin Cash technical analysis: BCH/USD major weekly zone remains at threat

  • Bitcoin Cash price is trading in the red, with losses of 0.50% in the second half of the session.
  • BCH/USD price action is moving within a bearish pennant via the weekly view. 
  • The bulls managed to snap a five-day session run of losses.
Bitcoin Cash technical analysis: BCH/USD major weekly zone remains at threat
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

A critical weekly zone can be seen running from $210 down to the $200 mark. 

BCH/USD daily chart

The psychological $200 mark remains at risk of being tested to the downside by the bears.

 

Spot rate:                 211.49

Relative change:      1.85%

High:                         214.43

Low:                          205.35

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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