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Bitcoin Cash technical analysis: BCH/USD must breakdown $440-60 for greater heights

  • Bitcoin Cash is holding trading in the red, with small losses seen in the second half of the session at -0.10%.
  • BCH/USD troubled by big area of supply preventing greater gains, $440-460. 
  • Via the daily chart view, price action remains moving within a bullish penannt pattern. 
Bitcoin Cash technical analysis: BCH/USD must breakdown $440-60 for greater heights
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 413.00

Relative change:      -0.10%

High:                         420.07

Low:                          407.60

BCH/USD 60-minute chart

  • Price action via the 60-minute chart view has broken and retested a key near-term ascending trend line of support. 

BCH/USD daily chart

  • If the bulls are to achieve greater heights, heavy supply seen at $440-60 range must be broken down. 

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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