BItcoin Cash technical analysis: BCH/USD produces double bottom, the price jumps 3%
- Bitcoin Cash price on Thursday is trading in positive territory by 3.20%.
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BCH/USD has found some buying interest around the $300 price territory, hitting a double bottom formation.
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Price action via the daily chart view is moving within a bearish flag structure.
Spot rate: 312.68
Relative change: +0.80%
High: 312.78
Low: 293.86
BCH/USD daily chart
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The price is moving within a bearish flag pattern formation, subject to a potential breakout.
BCH/USD 60-minute chart
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The upside is capped $320-325, near-term resistance, support running form $300-285 range.
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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