BCH/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias Bearish
Support: 262 (200-DMA), 246 (Lower BB), 227 (Apr 29 low)
Resistance: 308 (5-DMA), 346 (110-EMA), 364 (55-EMA)
Bitcoin Cash in the red for the 4th straight session, trades 3.42% lower at 287 at 11:00 GMT.
The pair is retracing from multi-month highs at 517.87 (June 26). RSI convergence to drag price lower.
Bearish divergence on RSI and Stochs to plummet prices further. RSi well below 50 and momentum with the bears.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) adds to the bearish bias.
Next major support lies at 200-DMA at 262. Break below will open up downside.
Immediate resistance lies at 5-DMA at 308. Break above finds major hurdle at 21-EMA at 337.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
