Bitcoin Cash Technical Analysis: BCH/USD bullish pennant pattern formation subject to breakout higher

  • Bitcoin Cash Friday saw a decent bounce back, trading in positive territory up some 4.00%. 
  • BCH/USD bulls looking to retest the high area seen at the start of the week, up around $320. 
  • Price action via the daily chart view is moving within a bullish pennant structure. 

Spot rate:                  283.58

Relative change:      +4.20%

High:                         290.04

Low:                          258.78

 

BCH/USD 60-minute chart

  • Near-term resistance around $280 preventing the bulls from pushing ahead currently. 

BCH/USD daily chart

  • Price action is moving within a bullish pennant pattern structure, subject to a breakout higher. 

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