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.

Ken Chigbo Independent Analyst

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

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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