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.

Ken Chigbo Independent 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

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.