Bitcoin Cash Price Analysis: BCH/USD Crashes Below $150

Key Issues

  • Bitcoin money value traded additional decrease and broke the $150 reinforce stage towards the USA Buck.
  • There’s a new connecting bearish pattern line shaped with resistance close to $148 at the hourly chart of the BCH/USD pair (knowledge feed from Kraken).
  • The pair stays at a chance of extra losses underneath the $140 stage within the close to time period.

Bitcoin money value prolonged losses underneath $150 towards the USA Buck. BCH/USD might proceed to transport down and it might even check the $125 stage.

Bitcoin Money Value Research

The previous day, we mentioned that bitcoin money value may just destroy the $150 stage towards the USA Buck. The BCH/USD pair remained in a bearish zone and it did industry underneath the $160 and $150 ranges. The decline used to be nasty as the associated fee is now buying and selling smartly underneath the $155 stage and the 100 hourly easy transferring reasonable. The final swing low used to be shaped close to the $145 stage earlier than the associated fee corrected upper.

It climbed above the $150 stage and the $152 pivot stage. There used to be a destroy above the 23.6% Fib retracement stage of the hot slide from the $166 prime to $145 low. On the other hand, the upside transfer used to be capped through the $155 and $156 resistance ranges. The 50% Fib retracement stage of the hot slide from the $166 prime to $145 low additionally acted as a resistance. Additionally, there may be a brand new connecting bearish pattern line shaped with resistance close to $148 at the hourly chart of the BCH/USD pair. The pair declined once more and broke the $145 low.

Bitcoin Cash Price Analysis BCH Chart

Taking a look on the chart, BCH value is beneath power underneath the $148 and $145 stage. It sort of feels like the associated fee might proceed to transport down and it might even destroy $140 and $132.

Taking a look on the technical signs:

Hourly MACD – The MACD for BCH/USD is somewhat closely within the bearish zone.

Hourly RSI (Relative Energy Index) – The RSI for BCH/USD is now close to the oversold ranges.

Primary Give a boost to Stage – $140

Primary Resistance Stage – $150

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