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  • Bitcoin Cash price is trading in the red, up with losses of 2.5% in the second half of the session.
  • BCH/USD remains stuck within the confinements of a bearish pennant structure via the daily.
  • The price had been consolidating over the last seven sessions following the steep fall between 20-24 September.

 

BCH/USD daily chart

Should the bears capitalize on the bearish pennant structure, then the price could quickly drop down below $200.  

BCH/USD 60-minute chart

The price is being comforted by a near-term critical ascending trend line of support.  

 

Spot rate:                  219.49

Relative change:       -2.50%

High:                          225.92

Low:                           216.14

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