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Bitcoin Cash technical analysis: BCH/USD bulls capitalize on breached bull flag

  • Bitcoin Cash price is trading in the red, with losses of 0.50% in the second half of the session.
  • BCH/USD is attempting to make a push for its third consecutive week in the green.
  • A break down of the big $300 price territory, can open the door for greater buying momentum.
Bitcoin Cash technical analysis: BCH/USD bulls capitalize on breached bull flag
Ken ChigboKen ChigboIndependent Analyst

BCH/USD weekly chart

Price action has extended to the upside, as the bulls attempt another week north of a breached descending wedge structure, or can be perceived as a bull flag. 

BCH/USD daily chart

Heavy supply is observed around the psychological $300 mark via the daily chart view. 

Spot rate:                 290.35

Relative change:      -0.50%

High:                         295.00

Low:                          285.14

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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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