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Bitcoin Cash technical analysis: BCH/USD vulnerabilities remain largely tilted to the downside

  • Bitcoin Cash  price in the second half of Monday is trading in the red, down some 0.70%. 
  • BCH/USD is stuck within consolidation mode, after the hard selling seen from late June carrier into mid-July. 
  • Price action has formed a bearish pennant structure, subject to a potential breakout the downside.
Bitcoin Cash technical analysis: BCH/USD vulnerabilities remain largely tilted to the downside
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 307.98

Relative change:      -0.70%

High:                         215.11

Low:                          205.89

BCH/USD 60-minute chart

  • The price is being supported near-term by an ascending trend line, as seen via the 60-minute chart view. 

BCH/USD daily chart

  • A bearish technical pennant is subject to a potential breakout to the downside. 

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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