Bitcoin Cash Technical Analysis: BCH/USD not out of trouble yet

Bitcoin Cash price late in the session on Wednesday is trading in the green by some 1%.
BCH/USD price is heading for a retest of a breached daily pennant pattern structure.
The noted retest could see the price having some trouble heading back into the $300 area.

Ken Chigbo Independent Analyst

Spot rate: 266.40

Relative change: +0.79%

High: 277.27

Low: 261.45

BCH/USD 60-minute chart

Near-term price action as seen the 60-minute chart view is moving within a bullish flag structure.

BCH/USD daily chart

Price action via the daily chart view is heading for a retest of a breached pennant pattern.

Author

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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