• Bitcoin Cash price on Friday is on the back foot, down in negative territory by some -2.5% in the second half of the session.
  • BCH/USD price action is moving within a bullish pennant pattern formation. 
  • Next major target for the bulls will be for a return up to the $400 price territory.

 

Spot rate:                  299.13

Relative change:      -2.50%

High:                         306.61

Low:                          290.14

BCH/USD 60-minute chart

  • Price action is narrowing, chunky demand protecting the price at $290, resistance to the upside capped by a descending trend line, $300-305.  

BCH/USD daily chart

  • Price action consolidating within a bullish pennant pattern formation, subject to a breakout higher. 



Source link Bitcoin Analysis

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