Bitcoin Cash technical analysis: BCH/USD big bearish flag structure is subject to a potential breakout


  • Bitcoin Cash price in the session on Wednesday is trading in negative territory by some 2.15%.
  • BCH/USD price action has been recovering over the last four weeks, following the strong selling form June-July period. 
  • During the noted period of recovery, price action via the daily has formed a bearish flag structure. 

 

Spot rate:                 338.65

Relative change:     -2.45%

High:                        358.49  

Low:                         333.04

 

BCH/USD daily chart

  • Price action via the daily chart view is moving within a bearish flag structure, subject to a potential breakout south. 

BCH/USD 60-minute chart

  • Price action is being supported to the upside by an ascending trend line via the 60-minute chart view. 

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