Crypto Technicals: Bitcoin Cash (BCH) extends weakness for the 4th straight session, eyes 20-DMA support at 195.85

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 195.85 (20-DMA); Resistance: 205.57 (5-DMA)

Technical Analysis: Bias Bearish

BCH/USD is extending weakness for the 4th consecutive session, bias remains bearish.

The pair was trading 1.27% lower on the day at 201.00 at 07:00 GMT after closing slightly weaker (-0.03%) in the previous session.

Major trend has been bearish and the technical indicators on the daily charts are turning bearish.

RSI has slipped below 50 mark and is biased lower and Stochs are on verge of rollover from overbought levels.

Recovery was capped at 50-DMA and intraday price is being capped at 5-DMA (205.62).

The pair is currently holding support at 200H MA at 200.65, break below will see further downside.

Immediate support lies at 20-DMA at 195.85, break below will see further weakness till 78.6% Fib at 168.35.

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