RATE Group | Bitcoin Cash Facing Uphill Task, BTC & ETH Consolidating
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Bitcoin Cash Facing Uphill Task, BTC & ETH Consolidating

03 Dec Bitcoin Cash Facing Uphill Task, BTC & ETH Consolidating

Posted at 08:22h in Bitcoin News by

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  • Bitcoin cash price is facing a strong resistance near the $216 and $218 levels against the US Dollar.
  • The price is currently consolidating in a range above the $210 support area.
  • There is a major bearish trend line forming with resistance near $215 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair must surpass the $216 resistance area to start a nice upward move.

Bitcoin cash price is facing many resistances near $216 against the US Dollar. BCH/USD could tumble below $210 if it continues to struggle near $216.

Bitcoin Cash Price Analysis

After a steady decline, bitcoin cash price found support near the $210 level against the US Dollar. BCH price traded as low as $209 and recently started an upside correction.

It broke the $213 level, and the 23.6% Fib retracement level of the last key decline from the $227 high to $209 low. However, the price seems to be facing a strong resistance near the $216 and $218 levels.

Similarly, bitcoin is struggling to gain momentum above…

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