Bitcoin Cash Technical Analysis: BCH/USD not if when for bull breakout
|- Bitcoin Cash price on Tuesday is trading in positive territory with gains of some 2.30% in the second part of the session.
- BCH/USD daily price action moving within a bullish pennant pattern structure.
- The next major targets for the bulls are $400 and then $600 price territory. A breakdown of $400, could see a fast reversal back up to the pre-November fall area of $600+.
Spot rate: 299.00
Relative change: +2.30%
High: 312.00
Low: 291.02
- The price lost much upside momentum in the early part of trading, running into chunky supply seen via the 60-minute, tracking from $310-313.
BCH/USD daily chart
- The price is subject to a potential breakout from the bullish pennant structure observed via the daily chart view.
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.