Bitcoin Cash Price Technical Analysis – BCH/USD Extends Correction

Key Factors

  • Bitcoin money worth continued to right decrease and moved beneath the $1500 help towards the US Greenback.
  • There’s a main bearish pattern line forming with resistance close to $1480 on the hourly chart of BCH/USD (information feed from Kraken).
  • The value would possibly prolong its decline and it might even break the $1400 help within the close to time period.

Bitcoin money worth is transferring decrease in direction of $1400 towards the US Greenback. BCH/USD would possibly prolong declines and stays liable to extra losses.

Bitcoin Cash Price Correction

Yesterday, we noticed the beginning of a draw back correction beneath $1600 in bitcoin money worth towards the US Greenback. The value continued to right decrease and it not too long ago moved beneath the $1500 help space. There was a break of the 61.eight% Fib retracement degree of the final upside wave from the $1148 low to $1750 excessive. It has opened the doorways for extra declines for the reason that worth is now…

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