RATE Group | Bitcoin Cash Price Analysis: BCH/USD Rebound Facing Hurdle Near $185
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Bitcoin Cash Price Analysis: BCH/USD Rebound Facing Hurdle Near $185

26 Nov Bitcoin Cash Price Analysis: BCH/USD Rebound Facing Hurdle Near $185

Posted at 07:55h in Bitcoin News by

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Key Points

  • Bitcoin cash price declined heavily towards $150 before recovering a few points against the US Dollar.
  • There is a major bearish trend line in place with resistance at $185 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair must break the $185, $190 and $200 resistance levels to move into a positive zone.

Bitcoin cash price tumbled and tested the $150 level against the US Dollar. BCH/USD is currently recovering, but it is facing a solid resistance near $185-190.

Bitcoin Cash Price Analysis

There was a sharp downside move from the $200 swing high in bitcoin cash price against the US Dollar. The BCH/USD pair declined more than $50 and traded towards the $150 level. A new yearly low was formed at $147 and the price settled well below the 100 hourly simple moving average. Later, there was an upside correction and the price moved above $150 and $160.

There was a break above the 50% Fib retracement level of the last decline from the $209 high to $147 low….

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