Ken Chigbo
Independent Analyst
- Bitcoin Cash price is trading in the red, with losses of 1.25% in the second half of the session.
- BCH/USD price action is sitting underneath a breached bear flag.
- A retest of the March low area down at $140 is the next major downside target.
BCH/USD daily chart
The price has been consolidating after the harsh selling between February - March, it appears this consolidation is gearing up for a resumption south.
BCH/USD 60-minute chart
A range block formation is viewable via the 60-minute chart view. The upside is capped at $228, down at $221. A breakout and retest are at present in play.
Spot rate: 220.70
Relative change: -1.20%
High: 225.37
Low: 218.70
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