Bitcoin Cash Price Weekly Analysis BCH/USD Remains at Risk

Bitcoin Cash Price Weekly Analysis  BCH/USD Remains at Risk

Key Points


Bitcoin cash price struggled to recover and moved below the $950 level against the US Dollar.
There is a crucial bearish trend line forming with resistance at $975 on the 4-hours chart of the BCH/USD pair (data feed from SimpleFX).
The pair remains at a risk of more declines and it could even break the last low of $867 in the near term.

Bitcoin cash price is under pressure below $975 against the US Dollar. BCH/USD may continue to decline towards $850 and $800 support levels.

Bitcoin Cash Price Downtrend

This past week pushed bitcoin cash price in a bearish zone below $1,000 the US Dollar. There was a sharp downside move and the price settled below the $1,000 level and the 100 simple moving average (4-hours). There was a decline towards the $850 level and a low formed at $867. A recovery was initiated and the price moved above the 23.6% Fib retracement level of the last decline from the $1,160 high to $867 low.

However, the upside wave was protected by the $1,050 level. Moreover, the 61.8% Fib retracement level of the last decline from the $1,160 high to $867 low acted as a hurdle. At the moment, the price is trading lower and is well below the $950 level. On the upside, there is a crucial bearish trend line forming with resistance at $975 on the 4-hours chart of the BCH/USD pair. It seems like the pair may continue to decline and it could even break the $900 level in the near term.


Further below $900, the last low of $867 could be tested. Moreover, there is a risk of a test of $850, which is a major support zone.

Looking at the technical indicators:

4-hours MACD The MACD for BCH/USD is once again moving in the bearish zone.

4-hours RSI (Relative Strength Index) The RSI for BTC/USD is now well below the 50 level.

Major Support Level $850

Major Resistance Level $975

Charts courtesy SimpleFX

17.03.2018 / 22:20 53
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