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

Key Issues

  • Bitcoin money worth traded additional decrease and broke the $150 improve degree towards the United States Buck.
  • There’s a new connecting bearish development line shaped with resistance close to $148 at the hourly chart of the BCH/USD pair (information feed from Kraken).
  • The pair stays at a chance of extra losses beneath the $140 degree within the close to time period.

Bitcoin money worth prolonged losses beneath $150 towards the United States Buck. BCH/USD would possibly proceed to transport down and it will even take a look at the $125 degree.

Bitcoin Money Value Research

The day gone by, we mentioned that bitcoin money worth may just ruin the $150 degree towards the United States Buck. The BCH/USD pair remained in a bearish zone and it did industry beneath the $160 and $150 ranges. The decline was once nasty as the fee is now buying and selling smartly beneath the $155 degree and the 100 hourly easy shifting moderate. The closing swing low was once shaped close to the $145 degree ahead of the fee corrected upper.

It climbed above the $150 degree and the $152 pivot degree. There was once a ruin above the 23.6% Fib retracement degree of the new slide from the $166 prime to $145 low. Then again, the upside transfer was once capped through the $155 and $156 resistance ranges. The 50% Fib retracement degree of the new slide from the $166 prime to $145 low additionally acted as a resistance. Additionally, there could also be a brand new connecting bearish development 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

Having a look on the chart, BCH worth is underneath drive beneath the $148 and $145 degree. It kind of feels like the fee would possibly proceed to transport down and it will even ruin $140 and $132.

Having a look on the technical signs:

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

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

Primary Enhance Stage – $140

Primary Resistance Stage – $150

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