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

  • Bitcoin Cash price on Tuesday is trading in the red, down some 2.70%. 
  • BCH/USD price action is retesting a breached flag pattern formation seen via the daily.
  • Near-term price action is moving within a bullish flag formation, which could reinvite some upside momentum. 
Bitcoin Cash technical analysis: BCH/USD bulls retest of the breached flag could be punishing
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 312.10

Relative change:      -2.70%

High:                        313.94

Low:                         305.47

BCH/USD daily chart

  • Price action broke out of a key flag formation and has since retested and faced rejection. 

BCH/USD 60-minute chart

  • The price is moving within a near-term bull flag formation, subject to a potential breakout to the upside. 

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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