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Bitcoin Cash Price Analysis: BCH/USD rockets 7% higher as life comes back into bulls

  • Bitcoin Cash price is trading in the green, with gains of 6.80% in the second half of the session.
  • BCH/USD bulls have broken a critical supply range at $200-225, inviting further buying.
  • The next major barrier to the upside should be noted at $250. 
Bitcoin Cash Price Analysis: BCH/USD rockets 7% higher as life comes back into bulls
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

Price action is pushing firmly to the upside, after moving out of the confinements of the above noted tight range, which was limited to the upside at $225 and supported the downside at $200. 

BCH/USD 60-minute chart

The bulls have smashed out from a pennant structure via the 60-minute chart view, inviting another wave of momentum. 

Spot rate:                223.88

Relative change:    +6.80%

High:                        246.00

Low:                         223.39

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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