Bitcoin Cash Price Analysis: BCH/USD moving within a bullish pennant subject to an explosive breakout
|- Bitcoin Cash price is trading in the green, with losses of 5.65% in the second half of the session.
- BCH/USD price action is narrowing within a range as part of a bullish pennant.
- Resistance to the upside should be noted at $390, to the downside $375.
BCH/USD weekly chart
The bulls have made tremendous gains over the last six weeks, a chunky barrier should be noted at $400.
BCH/USD daily chart
A bullish pennant is subject to a breakout higher from the bulls via the daily.
Spot rate: 381.92
Relative change: +1.25%
High: 392.27
Low: 374.45
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.