BCH/USD chart - Trading View
Exchange - Coinbase
Support: 185.75 (Trendline); Resistance: 202.85 (5-DMA)
Technical Analysis: Bias strongly bearish
BCH/USD tumbles over 5% on Monday's trade to hit 3-week lows at 193.60, bias strongly bearish.
The pair was extending previous session's weakness, was trading 1.03% lower at 193.93 at 09.45 GMT.
20-DMA offers stiff resistance. Multiple attempts by the pair to break above were rejected.
GMMA shows bearishness for near and long term. Parabolic SAR now supports downside.
Despite oscillators being well in the oversold territory, strong bearish momentum likely to drag prices lower.
Immediate support is seen at 185.75 (Trendline). Break below will see test of 88.6% Fib at 168.35.
5-DMA is immediate resistance at 202.87. Break above 20-DMA required for any shift in near-term dynamics.
