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Bitcoin Cash technical analysis: BCH/USD bulls retest of the breached flag could be punishing

  • Bitcoin Cash price in the late part of Monday is trading in the green, up some 1.20%. 
  • BCH/USD price action is retesting a breached flag pattern formation seen via the daily.
  • A rejection could be harmful should the bulls fail to break back above. 
Bitcoin Cash technical analysis: BCH/USD bulls retest of the breached flag could be punishing
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 32.31

Relative change:      +1.20%

High:                        329.27

Low:                         312.65

BCH/USD daily chart

  • Longer-term price action remains within consolidation mode via the daily, moving within a bearish flag. 

BCH/USD 15-minute chart

  • Price action via the 15-minute chart view is supported by an ascending trend line. 

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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