- Bitcoin Cash price on Wednesday has been hammered, nursing big losses of 5.5% in the session.
- BCH/USD bulls failed to complete a breakout from a technical structure, pennant pattern.
- Bears will likely look to turn up the pressure south, eyes on potential break of $200 to the downside.
Spot rate: 272.46
Relative change: -5.50%
BCH/USD 60-minute chart
- Critical near-term 60-minute demand can be observed around the $270 price area.
BCH/USD daily chart
- Pennant pattern formation fails to see the structured breakout to the upside, as bears pile in.
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