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Bitcoin Cash Technical Analysis: BCH/USD bears aim for $230 psychological level

FX Street
Updated:
  • The bears were in cruise control this Monday.
  • BCH/USD looks to drop below red Ichimoku cloud.
  • The MACD shows decreasing bullish momentum.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD bears dominated Monday and took the price down from 237.64 to $230.25. The bears aim to take the price below the $230 psychological level and the red Ichimoku cloud. The MACD shows decreasing bullish momentum.

Support and Resistance

The bears will want to conquer support at $229.89 (SMA 20), $225.35 and $220.20 to continue the downward momentum. On the upside, strong resistance lies at $232.85, $237.71 (SMA 50) and $240.60. 

Key levels

 

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