Bitcoin Cash
Analysis

FenzoFx—Bitcoin Cash is in a bear market, down by 6.50% since yesterday. As of this writing, the cryptocurrency trades at approximately $490.20. So far, BCH could hold above the ascending trendline, but this line of support is hammered 5 times, making it fragile.

From a technical perspective, we expect further downside in Bitcoin Cash. In this scenario, a break below $469.10 can trigger the bearish trend with further decline toward $437.60. Please note that if the selling pressure persists, the price can target $421.80 as well.

The bearish outlook remains valid as long as the price is below the critical resistance level which rests at $541.30.

The widget below calculates BCH/USD market trends using multiple indicators, such as moving averages and oscillators. It allows you to review market trends across various time frames easily.

The larger the timeframe, the more accurate the signals tend to be. Integrating this widget into your strategy and considering our fundamental news can help you make well-informed decisions.