BItcoin Cash technical analysis: BCH/USD produces double bottom, the price jumps 3%

  • Bitcoin Cash price on Thursday is trading in positive territory by 3.20%.
  • BCH/USD has found some buying interest around the $300 price territory, hitting a double bottom formation. 

  • Price action via the daily chart view is moving within a bearish flag structure. 

 
Spot rate:                  312.68

Relative change:      +0.80%

High:                         312.78

Low:                          293.86

 

BCH/USD daily chart

  • The price is moving within a bearish flag pattern formation, subject to a potential breakout. 

BCH/USD 60-minute chart

  • The upside is capped $320-325, near-term resistance, support running form $300-285 range.

 

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