RATE Group | Bitcoin Cash Price Analysis: BCH/USD Could Extend Losses Below $150
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Bitcoin Cash Price Analysis: BCH/USD Could Extend Losses Below $150

04 Dec Bitcoin Cash Price Analysis: BCH/USD Could Extend Losses Below $150

Posted at 10:12h in Bitcoin News by

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Key Points

  • Bitcoin cash price broke the $170 and $165 support levels plus extended losses against the US Dollar.
  • There is a major bearish trend line formed with resistance near $168 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently under a lot of pressure and it could decline further below $150.

Bitcoin cash price faced an increased selling pressure below $175 against the US Dollar. BCH/USD could even break the $150 support level and trade towards $130.

Bitcoin Cash Price Analysis

After failing near the $175 resistance, bitcoin cash price started a fresh decline against the US Dollar. The BCH/USD pair extended declines recently and broke the $170 and $165 support levels. The price is now trading well below the $170 level and the 100 hourly simple moving average. Earlier, there was an upward move, but the price failed to break the $175 and $180 resistance levels.

During the recent decline, the price broke the $160 support and traded as low as $154. The…

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