Bitcoin Cash Technical Analysis: BCH/USD rocket 8% higher but this is only just the takeoff, it has not reached orbit
|- Bitcoin Cash price in the second half of the session on Friday is trading well into the green, big gains of over 8%.
- BCH/USD has heavily outperformed its peers with the large gains in the session, as life is kicked back into bulls.
- The bulls must breakdown supply around the April high levels, for greater upside.
Spot rate: 288.12
Relative change: +8.60%
High: 296.50
Low: 262.33
BCH/USD 60-minute chart
- Price picked up momentum to the upside after moving out from a range-block formation, which contained the price from Wednesday.
BCH/USD daily chart
- Bulls managed to escape from a bullish flag pattern, with the April highs in scope to be tackled.
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.