Bitcoin Cash Price Analysis: BCH/USD makes a significant pennant breakout
- Bitcoin Cash price is trading in the green, with gains of 1.10% in the second half of the session.
- BCH/USD bulls have the opportunity to test a critical barrier at $250.
- The price is enjoying a consecutive run to the north of some three sessions.
BCH/USD daily chart
Price action is extending to the upside following a bullish pennant breakout via the daily chart view.
BCH/USD 60-minute chart
The bulls are breaking out of a narrowing 60-minute range, after consolidating briefly, on the back of the explosive moves on Thursday.
Spot rate: 235.25
Relative change: +1.10%
High: 242.60
Low: 230.60
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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