- Bitcoin cash price recovered recently from $105, but struggled to break $120 against the US Dollar.
- There is a crucial bearish trend line formed with resistance at $116 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
- The pair is likely to make the next move either above the $116-120 resistance or decline below $105.
Bitcoin cash price is struggling to gain momentum above $115-120 against the US Dollar. BCH is setting up for the next break either above $120 or below $105 in the near term.
Bitcoin Cash Price Analysis
There was a fresh decline recently in bitcoin, ripple, Ethereum, and bitcoin cash against the US Dollar. The BCH/USD pair traded towards the $105 level and later started an upside correction. The price moved above the $110 and $112 resistance levels. There was a break above the 23.6% Fib retracement level of the last decline from the $134 high to $105 swing low. Finally, there was a break above the $115 level, but the price struggled near the $120…
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