Bitcoin Cash price analysis: BCH/USD breaks out of a bull flag to the upside on 1-hour chart
|- BCH/USD makes a move to the upside out of a bull flag pattern.
- Next upside targets seen between the $1500-$1600 region.
The Bitcoin Cash seen trading up marginally of 0.5% during late trading on Friday, following a breakout to the upside of a bull flag seen on a 1-hour time frame. After this move, the price is now currently sitting on the upper trend line of the initial bull flag pattern.
Heading into the weekly close, BCH/USD is seen in the green on the week, after closing with losses in the previous week. The price made an advance for $1300 region, before running into resistance and being knocked backed down, within the above-mentioned bull flag.
BCH/USD within recent trading has made a break to the upside, out of the bull flag pattern observed on the 1-hour chart. The price is currently sitting on top of the trend line, pending another potential leg higher. Support at the initial upper trend line, tracking at $1275. If the bull run continues, next upside target would be between $1500-$1600.
BCH/USD 1-hour chart
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