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Bitcoin Cash Price Analysis: BCH/USD makes a significant pennant breakout

  • Bitcoin Cash price is trading in the green, with gains of 1.10% in the second half of the session.
  • BCH/USD bulls have the opportunity to test a critical barrier at $250.
  • The price is enjoying a consecutive run to the north of some three sessions. 
Bitcoin Cash Price Analysis: BCH/USD makes a significant pennant breakout
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action is extending to the upside following a bullish pennant breakout via the daily chart view. 

BCH/USD 60-minute chart

The bulls are breaking out of a narrowing 60-minute range, after consolidating briefly, on the back of the explosive moves on Thursday. 

Spot rate:                235.25

Relative change:    +1.10%

High:                        242.60

Low:                         230.60

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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