Home Bitcoin Cash technical analysis: BCH/USD a drop below $200 is a growing possibility
Crypto News

Bitcoin Cash technical analysis: BCH/USD a drop below $200 is a growing possibility

  • 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

.

 

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.