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Bitcoin Cash Technical Analysis: Nice technical pattern formation on the hourly chart

Bitcoin Cash is marginally lower today trading 0.22% down for the session.
The hourly chart has formed a triangle formation and price is headed toward the apex.

Rajan Dhall, MSTA FX Daily

BCH/USD 1-Hour Chart

Over the last month, the price of Bitcoin Cash has capitulated from a high of around 308.13 to a low of 192.24.

Since then there has been a small retracement and we find the price in a small retracement phase.

Now the market needs to decide if the downtrend on the higher timeframe will continue.

A break of the pattern will go a long way to help make that decision.

The good news for the bulls is the price is still holding above the 200 psychological level.

Additional Levels

BCH/USD

Overview
Today last price	213.7426
Today Daily Change	-0.3396
Today Daily Change %	-0.16
Today daily open	214.0822

Trends
Daily SMA20	233.3202
Daily SMA50	249.0333
Daily SMA100	260.7943
Daily SMA200	317.4677

Levels
Previous Daily High	216.3682
Previous Daily Low	209.7002
Previous Weekly High	226.9456
Previous Weekly Low	192.2474
Previous Monthly High	308.1348
Previous Monthly Low	192.2474
Daily Fibonacci 38.2%	212.2474
Daily Fibonacci 61.8%	213.821
Daily Pivot Point S1	210.3989
Daily Pivot Point S2	206.7155
Daily Pivot Point S3	203.7308
Daily Pivot Point R1	217.0669
Daily Pivot Point R2	220.0516
Daily Pivot Point R3	223.7349

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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BCH/USD 1-Hour Chart

Additional Levels

BCH/USD

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