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Bitcoin cash price failed to surpass the $430.00 resistance and declined recently. BCH could decline towards the $370.00 support area before a fresh bullish wave towards $420.00.

  • Bitcoin cash price is currently declining and is trading below $400.00.
  • BCH traded below a major contracting triangle with support near $404.00 on the 2-hours chart.
  • The price could extend the current downside towards the $370.00 support or $340.00 pivot.

Bitcoin Cash Price

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Bitcoin Cash Price Analysis (BCH to USD)

This week, bitcoin cash price made a couple of attempts to gain momentum above the $420.00 and $430.00 levels. However, BCH bulls struggled, resulting in a bearish wave below the $410.00 and $400.00 support levels.

Bitcoin Cash Price Analysis (BCH to USD)

Click to Enlarge Chart

Looking at the 2-hour chart of BCH/USD, the pair spiked towards the $447.09 level and recently declined steadily below $420.00. There was a close below the $400.00 support and the 25 simple moving average (2-hours).


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Moreover, the pair traded below a major contracting triangle with support near $404.00 on the same chart, opening the doors for more losses. Recently, it broke the 76.4% Fib retracement level of the upward move from the $381.79 low to $447.09 high.

It tested the $381.00 swing low and currently consolidating losses. An initial resistance on the upside is near the $400.00 level. However, the main resistance is near $408.00 and the 25 simple moving average (2-hours).

A successful close above the $410.00 level is needed for a fresh increase towards $430.00 and $445.00. On the downside, if there is a break below the $380.00 support, the price might test the $370.00 support area.

The 1.236 Fib extension level of the upward move from the $381.79 low to $447.09 high is also near the $366.40 level to act as a decent support. If the price continues to move down, it could test the main support near the $340.00 area.

More importantly, the 1.618 Fib extension level of the upward move from the $381.79 low to $447.09 high is at $341.00 to provide support. Overall, bitcoin cash might decline further, but BCH/USD is likely to bounce back from $370.00 or $340.00.

The market data is provided by TradingView, Coinbase.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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