RATE Group | Bitcoin Cash Price Analysis: BCH/USD Consolidating Below $200
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Bitcoin Cash Price Analysis: BCH/USD Consolidating Below $200

30 Nov Bitcoin Cash Price Analysis: BCH/USD Consolidating Below $200

Posted at 07:30h in Bitcoin News by

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Key Points

  • Bitcoin cash price remained below the $200 resistance and corrected lower against the US Dollar.
  • There is a major bearish trend line formed with resistance near $193 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could consolidate in the short term below $195 and $200 before the next move.

Bitcoin cash price remained in a range below the $200 resistance against the US Dollar. BCH/USD must climb above $190 and $200 to climb further higher in the near term.

Bitcoin Cash Price Analysis

Yesterday, we saw a rejection in bitcoin cash price near the $195-200 resistance zone against the US Dollar. The BCH/USD pair corrected lower and traded below the $180 level. It tested the $165 support area and formed a base for the next move. The price climbed higher and retested the $195-200 zone where sellers appeared. There was a fresh decline recently and the price traded towards the $170 level.

A new intraday low was formed at $172 and later the price corrected…

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