Bitcoin Cash Price Analysis: BCH/USD has an opportunity to shoot higher

Bitcoin Cash price is trading in the red, with losses of 0.70% in the second half of the session.
BCH/USD price action continues to move within a potential bullish pennant.
The range remains narrow; boundary to the upside at $390, to the downside $360.

Ken Chigbo Independent Analyst

BCH/USD daily chart

The daily price action has been tight for going on seven sessions now, as the price consolidates.

BCH/USD 60-minute chart

A range block formation is observed via the 60-minute chart view, awaiting the next committed move potentially from the bulls.

Spot rate: 379.67

Relative change: -0.65%

High: 384.54

Low: 372.34

BCH/USD

Overview
Today last price	379.6203
Today Daily Change	-2.5627
Today Daily Change %	-0.67
Today daily open	382.183

Trends
Daily SMA20	353.6773
Daily SMA50	272.5352
Daily SMA100	258.7163
Daily SMA200	271.2625

Levels
Previous Daily High	392.2721
Previous Daily Low	374.4546
Previous Weekly High	397.8693
Previous Weekly Low	307.1881
Previous Monthly High	404.3638
Previous Monthly Low	191.7762
Daily Fibonacci 38.2%	385.4658
Daily Fibonacci 61.8%	381.2609
Daily Pivot Point S1	373.6677
Daily Pivot Point S2	365.1524
Daily Pivot Point S3	355.8502
Daily Pivot Point R1	391.4852
Daily Pivot Point R2	400.7874
Daily Pivot Point R3	409.3027

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.

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Bitcoin Cash Price Analysis: BCH/USD has an opportunity to shoot higher