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Bitcoin Cash technical analysis: BCH/USD trading conditions are becoming very narrow, a breakout is nearing

  • Bitcoin Cash price on Wednesday is trading in negative territory by 0.25%.
  • BCH/USD price action has done little over the past two weeks, narrowing. 
  • Price action is moving within a bearish flag structure, subject to downside risks. 
Bitcoin Cash technical analysis: BCH/USD trading conditions are becoming very narrow, a breakout is nearing
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  307.27

Relative change:      -0.50%

High:                         309.27

Low:                          304.58

BCH/USD daily chart

  • The price is moving within a daily bearish flag formation, as it continues to consolidate. 

BCH/USD 60-minute chart

  • Price action is narrowing within a triangular structure, a breakout is nearing. 

Author

Ken Chigbo

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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