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Bitcoin Cash Analysis: Bulls Struggle Near $650

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Live Bitcoin News

Fri, Nov 26, 2021

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There was a break above a major bearish trend line with resistance near $600 the 4-hours chart of the BCH/USD pair (data feed from Coinbase).

Besides, there was a break above a major bearish trend line with resistance near $600 the 4-hours chart of the BCH/USD pair.

However, the price is now facing resistance near the $635 level.

The price is now trimming gains, but it is still above the $600 zone and the 55 simple moving average (4-hours).

An initial support is near the $600 level.

The first major support is near the $580 level and the 55 SMA.

The next major support is near the $550 level, below which the bears might aim a test of $500.

An intermediate resistance might be near the $720 level.

Looking at the chart , bitcoin cash price is now trading above the $600 zone and the 55 simple moving average (4-hours).

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