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Bitcoin Cash Technical Analysis: BCH/USD within the fast highway to hell as bears tear apart $100

  • Bitcoin Cash price nursing deep losses on Tuesday, trading down over 6%.
  • BCH/USD moving within a very steep descending channel to the south.
  • Bears looking to really go in for the kill with the price below $100. 
Bitcoin Cash Technical Analysis: BCH/USD within the fast highway to hell as bears tear apart $100
Ken ChigboKen ChigboIndependent Analyst

BCH/USD 60-minute chart


 

Spot rate:                  94.61

Relative change:      -6.77%

High:                         101.60

Low:                          92.33

Trend:                        Bearish

Support 1:                  92.40, lower support of channel. 

Support 2:                  90.00, psychological support.

Support 3:                  88.70, daily pivot point support.

Resistance 1:             97.50, upper part of channel.

Resistance 2:             106.80, daily pivot point resistance.

Resistance 3:             112.02, daily pivot point resistance.

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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