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Crypto Technicals: Bitcoin Cash (BCH) pauses downside at daily cloud (267.80), bias bearish

BCH/USD chart - Trading View 

Exchange - Coinbase

Support: 267.80 (Cloud Top); Resistance: 280.31 (110-EMA)

Technical Analysis: Bias bearish

BCH/USD was trading at 273.48 at 10:00 GMT, down 1.33% at the time of writing.

The pair is trading in the red for the 3rd straight session with scope for further downside.

Price action has broken below 21-EMA support, but is holding above cloud top at 267.80.

Technical indicators are turning bearish. Stochs and RSI are sharply lower. 5-DMA shows bearish crossover on 20-DMA.

Major trend in the pair is turning bullish, but near-term trend has turned bearish.

Break below cloud support will see dip till 50-DMA at 249.20. Retrace above 110-EMA negates bearish bias.
 

By Anupama Grandhi
  • Market Data
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