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BCH/USD Technical Analysis: The price has consolidated into a chart pattern

FX Street
Published date:
  • Bitcoin Cash is trading 0.5% higher today as crypto sentiment is mixed.
  • The price has now consolidated into a wedge chart pattern.

BCH/USD Hourly Chart

Bitcoin Cash is trading 0.5% higher today and now is a consolidation phase.

The price broke through the 55EMA and has now come back to test it.

The 200EMA is closer to the 200 psychological level.

The main point of the chart is to highlight the chart pattern. The price has now consolidated into a wedge formation.

The last candle is looking very bearish so the support is in focus.

Lastly, the RSI indicator has just dipped under the 50 mid-line which could also indicate more weakness is to come.

Bitcoin Cash Analysis

BCH/USD Additional Levels

 

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