Ken Chigbo
Independent Analyst
- Bitcoin Cash price on Tuesday is trading in positive territory with gains of some 2.30% in the second part of the session.
- BCH/USD daily price action moving within a bullish pennant pattern structure.
- The next major targets for the bulls are $400 and then $600 price territory. A breakdown of $400, could see a fast reversal back up to the pre-November fall area of $600+.
Spot rate: 299.00
Relative change: +2.30%
High: 312.00
Low: 291.02
BCH/USD 60-minute chart
- The price lost much upside momentum in the early part of trading, running into chunky supply seen via the 60-minute, tracking from $310-313.
BCH/USD daily chart
- The price is subject to a potential breakout from the bullish pennant structure observed via the daily chart view.
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