Bitcoin Cash Price Analysis: BCH/USD tight range formation subject to an explosive breakout
|- Bitcoin Cash price is trading in the red, with losses of 0.90% in the second half of the session.
- BCH/USD is consolidating below a critical barrier at $250.
- Should the bulls break above the noted resistance area, it could quickly restore buyer faith.
BCH/USD daily chart
A critical ascending trend line of support should be noted tracking around $225, which has been in play since 22 March.
BCH/USD 60-minute chart
Price action via the 60-minute chart view remains choppy and very much range-bound. The low down at $235, the high area at $248.
Spot rate: 240.87
Relative change: -0.90%
High: 243.43
Low: 237.48
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.