RATE Group | Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450
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Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450

26 Oct Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450

Posted at 05:57h in Bitcoin News by

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Key Points

  • Bitcoin cash price struggled to recover and it is currently moving lower against the US Dollar.
  • Yesterday’s highlighted key bearish trend line is intact with resistance at $440 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could break to the downside below $434 if there is no break above $440 and $445.

Bitcoin cash price remains at a risk below $450 against the US Dollar. BCH/USD must break the $440 and $445 resistances to recover in the near term.

Bitcoin Cash Price Analysis

After trading as high as $445, bitcoin cash price started a downside move against the US Dollar. The BCH/USD pair traded towards the $430 support area and formed a low near $434. Later, there was a minor upside recovery above the $435 level. The price moved above the 23.6% Fib retracement level of the last drop from the $445 high to $435 swing low. However, upsides remained capped by the $440 and $445 resistance levels.

Buyers failed to surpass the $440 resistance zone. More…

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