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Bitcoin Cash technical analysis: BCH/USD vulnerabilities point to the downside given narrowing price behavior

  • Bitcoin Cash price is nursing losses of over 3.5% towards the latter part of Tuesday's session.
  • BCH/USD daily price action is narrowing, the range high $405, the low at $360.
  • Price action has been stuck within consolidation mode since the key ascending trend line of support was breached. 
Bitcoin Cash technical analysis: BCH/USD vulnerabilities point to the downside given narrowing price behavior
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 380.33

Relative change:      +3.55%

High:                        398.04

Low:                         378.85

BCH/USD 60-minute chart

  • A bearish penannt formation can be eyed via the 60-minute chart view or a triangular structure. 

BCH/USD daily chart

  • A narrowing is observed for BCH/USD daily price action, as seen for the past seven sessions. 

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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