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The daily chart shows that the Bitcoin Cash price has been in a tight range recently. The coin is trading at $643, which is slightly below this month’s high at $803. It is slightly below the 61.8% retracement level at $750 and along the 25-day and 50-day moving averages. It also seems like it has formed a bearish flag pattern and a head and shoulders pattern.
Therefore, there is a likelihood that it will break out lower and retest the key support at $510, which is along the 78.6% retracement level. This view will be invalidated if the price rises above $700.