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Bitcoin Cash Technical Analysis: BCH/USD sitting on critical weekly support a breach is eyed

  • Bitcoin Cash price is trading in the green, with gains of 2.10% in the second half of the session.
  • BCH/USD is sitting on critical weekly support at $208, ahead of of psychological $200 mark. 
  • Price action is moving within consolidation mode, vulnerable to further downside risks. 
Bitcoin Cash Technical Analysis: BCH/USD sitting on critical weekly support a breach is eyed
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

The price is running at its second consecutive week in the red, trading just above vital support at $208. 

BCH/USD daily chart

Daily trading conditions remain very much narrow, which has been the case since 23 November. An explosive breakout does appear to be imminent. 

Spot rate:                 211.11

Relative change:      +2.10%

High:                          209.10

Low:                           206.00

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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