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Bitcoin Cash technical analysis: BCH/USD troubling big barrier at $215

  • Bitcoin Cash price is trading in the red, with losses of 2.55% in the second half of the session.
  • BCH/USD vulnerable to further downside risks as price retests breached bearish pennant.
  • Near-term price rallies remain subject to being sold by market bears.
Bitcoin Cash technical analysis: BCH/USD troubling big barrier at $215
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action is retesting a breached bearish pennant structure, at present finding difficult to break down. 

BCH/USD 60-minute chart

The price is getting sucked back within a breached 60-minute range, with the $200 mark at risk of another retest. 

Spot rate:                   206.84

Relative change:      -2.60%

High:                          214.70            

Low:                           205.38              

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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