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Bitcoin Cash Technical Analysis: BCH/USD price is stuck in trouble

  • Bitcoin Cash price late in the session on Friday is nursing steep losses of some 3%, as the bears maintain control.
  • BCH/USD is running towards its fourth consecutive session in the red, dropping as much as 20% within the period. 
  • The bulls failed to capitalize on a bullish pennant pattern structure seen via the daily. 
Bitcoin Cash Technical Analysis: BCH/USD price is stuck in trouble
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                256.05

Relative change:     +3.03%

High:                       270.62

Low:                        250.11

BCH/USD

Overview
Today last price255.5927
Today Daily Change-8.2076
Today Daily Change %-3.11
Today daily open263.8003
 
Trends
Daily SMA20296.2083
Daily SMA50219.5312
Daily SMA100172.8306
Daily SMA200235.357
Levels
Previous Daily High284.4165
Previous Daily Low256.384
Previous Weekly High335.1791
Previous Weekly Low272.9829
Previous Monthly High172.9457
Previous Monthly Low120.5261
Daily Fibonacci 38.2%267.0924
Daily Fibonacci 61.8%273.7081
Daily Pivot Point S1251.9841
Daily Pivot Point S2240.1678
Daily Pivot Point S3223.9516
Daily Pivot Point R1280.0165
Daily Pivot Point R2296.2327
Daily Pivot Point R3308.049

BCH/USD 60-minute chart

  • Price action via the 60-minute has broken out to the downside from a bearish pennant pattern. 

BCH/USD daily chart

  • Price is running at its fourth consecutive session in negative territory, as the bears maintain control. The bullish pennant structure was not capitalized on by the bulls. 

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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