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Bitcoin Cash Price Analysis: BCH/USD rockets higher out from bullish pennant

  • Bitcoin Cash price is trading in the green, with gains of 14.30% in the second half of the session.
  • BCH/USD price action has smashed out to the upside from a bullish pennant structure.
  • The bulls escaped a mundane range of $390 to the upside, and then $360 to the downside. 
Bitcoin Cash Price Analysis: BCH/USD rockets higher out from bullish pennant
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action is breaking out of a narrowing range structure, of which had contained BCH for seven sessions. 

BCH/USD 60-minute chart

A range block formation was observed via the 60-minute chart view, which has been strongly broken down by the bulls. 

Spot rate:                 434.27

Relative change:     +14.30%

High:                         438.65

Low:                          378.06

BCH/USD

Overview
Today last price436.7734
Today Daily Change56.9779
Today Daily Change %15.00
Today daily open379.7955
 
Trends
Daily SMA20355.6833
Daily SMA50276.2126
Daily SMA100259.8998
Daily SMA200271.5869
 
Levels
Previous Daily High384.548
Previous Daily Low372.3472
Previous Weekly High397.8693
Previous Weekly Low307.1881
Previous Monthly High404.3638
Previous Monthly Low191.7762
Daily Fibonacci 38.2%377.0079
Daily Fibonacci 61.8%379.8873
Daily Pivot Point S1373.2458
Daily Pivot Point S2366.6961
Daily Pivot Point S3361.045
Daily Pivot Point R1385.4466
Daily Pivot Point R2391.0978
Daily Pivot Point R3397.6475

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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