Ken Chigbo
Independent Analyst
- Bitcoin Cash price is trading in the red, with losses of 0.85% in the second half of the session.
- BCH/USD pressure is back on the downside, after a potential short squeeze in the prior session.
- There is a risk of reversal if the bulls do not further capitalize on the gains of Thursday.
BCH/USD daily chart
A retest and rejection have so far been observed of a breached daily flag structure. Leaving the door open to further potential moves south.
BCH/USD 60-minute chart
The pressure is back on the downside, following a near-term trend line of support breach.
Spot rate: 220.97
Relative change: -0.85%
High: 233.56
Low: 215.94
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