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  • Bitcoin Cash price is trading in the green, with gains of 5.20% in the second half of the session.
  • BCH/USD was forced to retest the critical daily support at the psychological $300 mark. 
  • Should the above-noted support give way, a strong wave of selling pressure may be seen. 

BCH/USD weekly chart

The price has closed in the red for three consecutive sessions, which has been the case since the bearish evening star formation. 

BCH/USD daily chart

Price action is attempting to break out of a narrowing bearish pennant structure via the daily, trading to avoid another breakout south. 

 

Spot rate:                 328.46

Relative change:     +5.50%

High:                         329.11

Low:                          310.44