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Bitcoin Cash’s breach of neckline could drive its value below $200

From eng.ambcrypto.com

Bitcoin Cash’s price appeared to have stagnated below the $240-level for the past couple of weeks. Despite a consistent upward price action, its price has lost the necessary momentum to recover the losses wiped off during the crash and continued to be in a bearish zone. At the time of writing, BCH was being traded at $228.5. Image}As BCH struggled in the bearish position, its price candles formed a head and shoulder pattern with two shoulder peaks at $245 and $240 not exceeding the highest point or the head at $255. A breakout of this pattern could potentially cause a further spiral down the bearish realm for the ... (full story)

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  • Category: Technical Analysis