RATE Group | Bitcoin Cash Price Weekly Analysis: BCH/USD Could Extend Losses Below $520
48707
post-template-default,single,single-post,postid-48707,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Cash Price Weekly Analysis: BCH/USD Could Extend Losses Below $520

11 Nov Bitcoin Cash Price Weekly Analysis: BCH/USD Could Extend Losses Below $520

Posted at 11:56h in Bitcoin News by

[ad_1]

Key Points

  • Bitcoin cash price started a major downside correction from the $635 swing high against the US Dollar.
  • There is a key bearish trend line in place with resistance at $550 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently trading in a bearish zone with an immediate support near the $530 level.

Bitcoin cash price is under pressure below $550 against the US Dollar. BCH/USD could continue to move down towards the $500 or $480 level.

Bitcoin Cash Price Analysis

This past week, there was a decent upward move from the $480 swing low in bitcoin cash price against the US Dollar. The BCH/USD pair traded above the $520 and $550 resistance levels and settled above the 100 simple moving average (4-hours). The upside move gained pace above the $600 and the price traded as high as $637. Later, there was a downside correction and the price moved below the $580 and $550 supports.

The price traded as low as $521 and it is currently consolidating losses. An…

[ad_2]

Source link

Tags:
, , , , , , , ,