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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%.
BCH/USD has found some buying interest around the $300 price territory, hitting a double bottom formation.
Price action via the daily chart view is moving within a bearish flag structure.

Ken Chigbo Independent Analyst

Spot rate: 312.68

Relative change: +0.80%

High: 312.78

Low: 293.86

BCH/USD daily chart

The price is moving within a bearish flag pattern formation, subject to a potential breakout.

BCH/USD 60-minute chart

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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