Crypto Technicals: BCH/USD hits 3-week lows, bearish momentum to drag prices lower

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 283.76 (Aug 30 low); Resistance: 303.19 (5-DMA)

Technical Analysis: Bias Bearish

BCH/USD extends weakness for the 5th straight session, hits 3-week lows at 285.01.

The pair trades below 200-DMA and daily cloud, bias is strongly bearish.

Stochs and RSI are sharply lower and RSI is well below 50 mark. MACD shows bearish crossover on signal line.

Bearish 5-DMA crossover on 20-DMA adds to the downside bias. GMMA also shows shift in short-term trend.

The pair has bounced off lower Bollinger band and finds strong trendline support at 280.

Break below 280 will see dip till 61.8% Fib at 243.03. Bearish invalidation above 200-DMA.

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