- Bitcoin Cash price late on Wednesday is trading in the green by over 5%.
- BCH/USD daily price action extended to the upside after breaking out from a bullish pennant.
- A daily closure above the psychological $500 mark could leave the door open to further buying pressure.
Spot rate: 502.24
Relative change: +5.25%
BCH/USD 60-minute chart
- BCH/USD is set to retest a breached range-block formation, where $500 is seen at the top of this structure.
BCH/USD daily chart
- The bulls have extended to the upside following a daily breakout of a pennant formation.
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