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Bitcoin Cash Price Analysis: BCH/USD has formed a big potential bullish pennant structure

  • Bitcoin Cash price is trading in the red, with losses of 1.05% in the second half of the session.
  • BCH/USD price action over the last seven sessions has been narrowing, range subject to a breakout. 
  • The above-noted range is to a high of $360 down to a low of $330. 
Bitcoin Cash Price Analysis: BCH/USD has formed a big potential bullish pennant structure
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

A potential bullish pennant via the daily chart view has formed, given the current price narrowing. 

BCH/USD 60-minute chart

Near-term price action is moving within a range-block formation, as BCH further narrows. 

Spot rate:                  338.81 

Relative change:      -1.20%

High:                          347.01

Low:                           335.50

BCH/USD

Overview
Today last price338.3658
Today Daily Change-4.5481
Today Daily Change %-1.33
Today daily open342.9139
 
Trends
Daily SMA20275.3401
Daily SMA50230.8652
Daily SMA100240.0536
Daily SMA200271.4374
 
Levels
Previous Daily High353.1247
Previous Daily Low322.386
Previous Weekly High382.7541
Previous Weekly Low258.027
Previous Monthly High220.5853
Previous Monthly Low170.0256
Daily Fibonacci 38.2%341.3825
Daily Fibonacci 61.8%334.1282
Daily Pivot Point S1325.825
Daily Pivot Point S2308.7362
Daily Pivot Point S3295.0864
Daily Pivot Point R1356.5637
Daily Pivot Point R2370.2135
Daily Pivot Point R3387.3023

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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