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Bitcoin Cash Price Analysis: BCH/USD critical range could be what bulls need

  • Bitcoin Cash price is trading in the red, with losses of 1.50% in the second half of the session.
  • BCH/USD price action remains narrow a high at $230 down to a low of $220. 
  • Supply remains heavy within the region of $225-50 that the bulls will need to break down. 
Bitcoin Cash Price Analysis: BCH/USD critical range could be what bulls need
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Conditions via the daily have offered little in terms of direction. The price is capped to the upside at $230, to the downside at $220. This range has been observed over the last three sessions, edging towards a potential explosive breakout. 

BCH/USD 60-minute chart

A near-term ascending trend line of support has guided BCH/USD to the upside, via the 60-minute chart view. 

Spot rate:                223.88

Relative change:    -1.55%

High:                        235.46

Low:                         221.75

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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