Ken Chigbo
Independent Analyst
- Bitcoin Cash price late on Thursday is trading deep in the red down some 4.5%.
- Profit-taking appears to have kicked in, resulting in some deep selling for BCH/USD.
Spot rate: 150.79
Relative change: -4.50%
High: 159.51
Low: 146.38
Trend: Bearish
BCH/USD 60-minute chart
- Price action has been prevented from a free-fall thanks to near-term demand via the 60-minute view, $146-147.
BCH/USD daily chart
- Heavy supply observed via the daily chart view from $165-160, as touted profit-taking comes into place.
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