Bitcoin Cash technical analysis: BCH/USD bears pushing for further downside, following double-digit drop

  • Bitcoin price is trading down some 11% in the second half of the session on Thursday. 
  • BCH/USD price action via the 60-minute chart view is moving within a bearish pennant structure. 
  • Next major demand zone to the downside eyed at around $230, should the bears manage to further press south. 


Spot rate:                 345.62

Relative change:      -11.10%

High:                        389.33

Low:                         312.34


BCH/USD 60-minute chart

  • 60-minute price action is moving within a bearish pennant formation, subject to a breakout.


BCH/USD daily chart

  • An extension to the downside was seen following a key daily trend line failing to hold the price. 

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