The Bitcoin Cash price line shows dishevelled price movements on the price chart for the 9th of March. The cryptocurrency trades within a day’s range of $268.880000 — $275.000000. kyeats813 suggests that the cryptocurrency has validated a head and shoulders pattern with a break of the neckline.
1-Day Bitcoin Cash Price Analysis (09th March)
The Bitcoin Cash began the trade on the 9th of March with a starting price under the $275.00 mark. The cryptocurrency showed dishevelled price movements over the day until it saw bears in the afternoon. The coin fell towards the $252.50 mark, and it scored a day’s low of $235.00458 US Dollars. Towards the end of the day, the coin moved towards the $272 trading value and closed the day at $274.0678 US Dollars. At the time of writing, the cryptocurrency stood at the $270.630 mark.
Bitcoin Cash: predictive analysis
kyeats813 is of the opinion that as the cryptocurrency has shown a clear formation of the head and shoulders, with a clean break of the neckline, it will now look to add to the short and bounce back towards the last support range.
The crypto analyst also suggested that the last support range will now act as a resistance between $297 – $307.
Featured Image by Jason Briscoe.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.