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Bitcoin Cash technical analysis: BCH/USD big bull range breakout

  • Bitcoin Cash price is trading in the green, up with gains of 21.35% in the second half of the session.
  • BCH/USD bullish momentum has carried it firmly out of a narrowing daily range that had been containing the price since late September.
  • The price is trading back at its highest level seen since 24 September.
Bitcoin Cash technical analysis: BCH/USD big bull range breakout
Ken ChigboKen ChigboIndependent Analyst

BCH/USD daily chart

The bulls have smashed out from a narrowing range-block formation, leaving the door open to further potential upside pressure. 

BCH/USD 60-minute chart

Upside momentum has run its course so it appears via the 60-minute view, as the latest candles start producing wicks. 

Spot rate:                 257.89

Relative change:      +21.45%

High:                         273.44

Low:                          212.13

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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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