Bitcoin Cash technical analysis: BCH/USD bearish structure subject to a break

• Bitcoin Cash is trading marginally the green, up with gains of some 0.45% in the second half of Thursday.
• BCH/USD via the daily view is moving within a bearish pennant structure.  
• Near-term price action remains narrow, a lack of commitment on the directional front as seen across the market.  

Spot rate:                  303.47

Relative change:       +1.90%

High:                          313.11

Low:                           301.08

BCH/USD 60-minute chart

• Price action via the 60-minute chart view smashed out from a descending channel formation.  

BCH/USD daily chart

• Given the technical bearish pennant structure, there are some vulnerabilities to the downside that remain.