Bitcoin Cash Price Analysis: BCH/USD Tumbles, Sell on Rallies

This aggregated story was originally published on this site. Follow the link in the word Story at left to read the full article.

Key PointsBitcoin cash price failed to move past the $580-600 resistance and tumbled against the US Dollar.There was a break below a key bullish trend line with support at $500 on the hourly chart of the BCH/USD pair (data feed from Kraken).The pair traded below the $475 level and it is currently correcting higher towards $500-510.Bitcoin cash price traded sharply lower below $500 against the US Dollar. BCH/USD could correct higher, but it remains sell on rallies near $510 and $530.Bitcoin Cash Price DeclineYesterday, bitcoin cash price made an attempt to break the $580 and $600 resistance levels against the US Dollar. The BCH/USD pair failed to move past $600, which resulted in a bearish reaction. The price dropped abruptly and broke many supports such as $550 and $520. It even settled below the $520 pivot level and the 100 hourly simple moving average.Moreover, there was a break below a