Ken Chigbo
Independent Analyst
- Bitcoin Cash price is trading in the red, with losses of 0.50% in the second half of the session.
- BCH/USD is attempting to make a push for its third consecutive week in the green.
- A break down of the big $300 price territory, can open the door for greater buying momentum.
BCH/USD weekly chart
Price action has extended to the upside, as the bulls attempt another week north of a breached descending wedge structure, or can be perceived as a bull flag.
BCH/USD daily chart
Heavy supply is observed around the psychological $300 mark via the daily chart view.
Spot rate: 290.35
Relative change: -0.50%
High: 295.00
Low: 285.14
.
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