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Bitcoin Cash technical analysis: BCH/USD the door open to more selling

  • Bitcoin Cash price is trading in the red, with losses of 3.30% the session on Thursday.
  • BCH/USD bears have forced their way out of a bearish flag structure, leaving the door open to further selling pressure. 
  • The sellers are making a push for the big pychological $200 price mark. 
Bitcoin Cash technical analysis: BCH/USD the door open to more selling
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The bears are making a breakout to the downside from a bearish flag structure. 

BCH/USD 60-minute chart

A range block breakout has been observed, allowing another wave of pressure south. 

Spot rate:                  238.74

Relative change:      -3.05%

High:                         226.21

Low:                          214.05

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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