- 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%
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.