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.

Ken Chigbo Independent 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

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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