- Bitcoin Cash price seen trading broadly flat in the latter stages of Friday’s session, after a choppy trading week, but big breakout could be pending.
- BCH/USD price action has formed a bullish pennant pattern, which does look subject to a large bull breach.
The Bitcoin Cash price action in the latter stages of Friday, was very much muted. Trading broadly flat, after what was a choppy week, as has been the case across the market. Eyes will be watching the price carefully over the weekend.
BCH/USD price action has formed a bullish pennant pattern. The formation began after the chunky surge to the upside, which was seen on 26th September. The price has since entered a consolidation mode of trading.
Technically, given the current price behavior and bullish technical set up eyed, risks appear pointed to the upside. BCH/USD price has little room to maneuver now, as it enters the final stages of the pennant pattern. Resistance to the upside seen at $523, with support from $512-509, the lower trend line of pattern.
BCH/USD 4-hour chart
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