RATE Group | Bitcoin Cash Price Analysis: BCH/USD is Struggling Below $450
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Bitcoin Cash Price Analysis: BCH/USD is Struggling Below $450

15 Oct Bitcoin Cash Price Analysis: BCH/USD is Struggling Below $450

Posted at 05:27h in Bitcoin News by

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Key Points

  • Bitcoin cash price failed to recover above the $440 and $450 resistance levels against the US Dollar.
  • There is a connecting bearish trend line in place with resistance at $444 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could decline below $420 if it continues to struggle near the $440-450 zone.

Bitcoin cash price is facing a tough barrier at $450 against the US Dollar. BCH/USD may consolidate between $420-450 before it makes the next move.

Bitcoin Cash Price Analysis

Recently, there was a minor upside correction above the $430 level in bitcoin cash price against the US Dollar. The BCH/USD pair traded above the $440 level as well. Moreover, there was a slight upward move above the 23.6% Fib retracement level of the downward move from the $515 high to $422 low. However, the price failed to gain pace above the $445 and $450 levels.

There was also no proper close above the $440 level as the price struggled near the 100 hourly simple moving average….

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