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  • Bitcoin Cash price is trading in the red, with losses of 4.00% in the second half of the session.
  • BCH/USD has managed to extend north since the critical $300 price retest. 
  • The bulls have made way for a near-term recovery, after bottoming out the last few days. 

 

BCH/USD daily chart

The price had been moving within a narrowing pennant structure, from 27 February to 1 March. However, the bull forced a decent daily breakout in the session of 2 March and closing above, voiding the pattern for now. 

BCH/USD 60-minute chart

Bulls have extended to the upside out from a bullish flag structure, inviting a decent wave of pressure north. 

Spot rate:                 328.46

Relative change:     -4.00%

High:                         339.74

Low:                          320.14