Bitcoin Cash technical analysis: BCH/USD remains at risk of bear attack

Bitcoin Cash price is trading in the green, up with small gains of 0.4% the session on Friday.
BCH/USD price action remains vulnerable as it moves within a bearish pennant structure.
Trading conditions since 24 September have been very narrow, a lack of commitment at present.

Ken Chigbo Independent Analyst

BCH/USD daily chart

Price action is moving within a bearish pennant structure via the daily chart view, vulnerabilities remain pointed to the downside.

BCH/USD 60-minute chart

The price via the 60-minute view remains very narrow within a range-block formation, imminent breakout eyed.

Spot rate: 223.50

Relative change: +0.35%

High: 225.32

Low: 217.96

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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