Bitcoin Cash was anticipated to start 2020 with a bang. The opening was with a marginal loss, but the same continued today and extended its wings. Presently, the BCH coin price is trading downwards and looks like; it would the day with a similar note. The speculations of an uptrend are shifted to the second week. The coin might improve the momentum till then.
Bitcoin Cash Price Analysis
Yesterday, Bitcoin Cash started at $205. The price jumped to $206 by 0.26%. The currency slipped to $204 by 0.80%. The coin escalated again and touched $205 by 0.73%. The price started falling and closed the day at $203 by a 1.11% loss in the price. The intraday movement in coin brought $0.98% regression at a price. Today, Bitcoin Cash began with a heavy drop. The price counters moved from $203 to $200 by 1.77%. The price jumped to $203 by 1.46%.
Bitcoin Cash is dealing at $203. The coin is quite near the immediate support level at $202. The same might get breached in the coming hours. As per BCH predictions, the closing in Bitcoin Cash might be near the next support level at $200.
| Resistance Level | Price | Support Level | Price |
| R1 | $ 207.25 | S1 | $ 202.38 |
| R2 | $ 210.1 | S2 | $ 200.36 |
| R3 | $ 212.12 | S3 | $ 197.51 |
Bitcoin Cash is best suited for long-term investors. The short term might be chancy for the traders; hence, we wouldn’t vote for the same.