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On the weekly chart for Bitcoin Cash (BCH) against USD, the price is currently trading around $305, showing a bearish trend. The analysis highlights a descending trendline that has been respected since the peak in late 2017/early 2018. Recent price action suggests a potential break below this trendline, with a target price inferred around $200. The failure bound for this bearish outlook is set above the current price, around $360, suggesting that a move above this level would invalidate the bearish thesis. The speaker also notes the increasing correlation with the ETH/BCH pair, which is showing an upward trend contrary to the USD pair. However, the overall sentiment for BCH against ETH is also considered bearish due to resistance encountered and a potential downtrend, with the price possibly falling to lower levels. The RSI and MACD indicators are also discussed, with the MACD showing bearish divergence on some timeframes, reinforcing the bearish outlook. The lack of volume during recent price movements is also highlighted as a potential concern for sustained upward momentum.