Bitcoin Cash Technical Analysis: BCH/USD must break back above a breached daily wedge structure
|- Bitcoin Cash price on Wednesday is trading in the green, up with gains of around 2%, after an initial slow start to the day.
- BCH/USD bears smash out from a rising wedge pattern formation, retest eyed.
- The price is heading for a retest of the noted breached structure, a rejection could see further downside pressure.
Spot rate: 391.27
Relative change: +2.20%
High: 417.65
Low: 378.93
BCH/USD 60-minute chart
- A near-term break above and retest of a 60-minute trend line, now acting as support.
BCH/USD daily chart
- The price broke out of a rising daily wedge structure, the retest is currently in play.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.