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Bitcoin Cash Price Analysis: BCH/USD critical near-term descending trend line breach

  • Bitcoin Cash price is trading in the green, with gains of 1.50% in the second half of the session.
  • BCH/USD has pushed further north of the key psychological $200 price territory. 
  • The bulls must break down the supply from $200-250 for greater upside momentum.

BCH/USD daily chart

The bulls are pressing for a significant range breakout, which has contained the price since 19 March, the barrier noted at $220-225. 

BCH/USD 60-minute chart

A push north of a descending trend line which had been capping upside from 20 March has now been a breach by the bulls. 

 

Spot rate:                225.70 

Relative change:    +1.50%

High:                        231.07

Low:                         218.48

 

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