Bitcoin Cash Analysis: BCH Trading Near Make-or-Break Levels

November 8, 2019 | By | Reply | 51 Readers More

  • Bitcoin cash price is facing a strong resistance near the $308 level against the US Dollar.
  • The price is currently trading above a couple of key supports near the $288 and $282 levels.
  • There is a major bullish trend line forming with support near $286 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair could decline further if there is a break below $286 and $284.

Bitcoin cash price is correcting gains below the $300 level against the US Dollar. BCH/USD might extend its correction towards the $268 support area.

Bitcoin Cash Price Analysis

In the past few days, there was a steady increase in bitcoin cash price above the $268 and $284 resistance levels. Moreover, BCH price settled above the $280 level and the 55 simple moving average (4-hours).

Finally, the price traded above the key $300 resistance area. However, the price struggled to gain momentum above…

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