Bitcoin Cash’s price appeared to have stagnated below the $240-level for the past couple of weeks.
Despite a consistent upward price action, its price has lost the necessary momentum to recover the losses wiped off during the crash and continued to be in a bearish zone.
An outcome of a bearish breakout following the breach of the neckline was also supported by the indicators.
Another target point can also be calculated by measuring the highest point of the head to the neckline.
In this case, its another target point was found to be at $192.5, a level which was last seen in March this year.

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