BCH/USD chart - Trading View
Exchange - Coinbase
Support: 283.76 (Aug 30 low); Resistance: 303.19 (5-DMA)
Technical Analysis: Bias Bearish
BCH/USD extends weakness for the 5th straight session, hits 3-week lows at 285.01.
The pair trades below 200-DMA and daily cloud, bias is strongly bearish.
Stochs and RSI are sharply lower and RSI is well below 50 mark. MACD shows bearish crossover on signal line.
Bearish 5-DMA crossover on 20-DMA adds to the downside bias. GMMA also shows shift in short-term trend.
The pair has bounced off lower Bollinger band and finds strong trendline support at 280.
Break below 280 will see dip till 61.8% Fib at 243.03. Bearish invalidation above 200-DMA.
