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Bitcoin Cash Price Analysis: BCH/USD moving within a bullish pennant subject to an explosive breakout

  • Bitcoin Cash price is trading in the green, with losses of 5.65% in the second half of the session.
  • BCH/USD price action is narrowing within a range as part of a bullish pennant. 
  • Resistance to the upside should be noted at $390, to the downside $375. 
Bitcoin Cash Price Analysis: BCH/USD moving within a bullish pennant subject to an explosive breakout
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

The bulls have made tremendous gains over the last six weeks, a chunky barrier should be noted at $400. 

BCH/USD daily chart

A bullish pennant is subject to a breakout higher from the bulls via the daily. 

Spot rate:                 381.92

Relative change:     +1.25%

High:                         392.27

Low:                          374.45

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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