Search ForexCrunch
  • Bitcoin Cash price is trading in the red, with losses of 8.50% in the second half of the session.
  • BCH/USD price action has been largely narrowing within a tight range, the bears have forced a breach.
  • The range was; the high at $360 down to a low of $330 via the daily.  

 

BCH/USD daily chart

The price via the daily chart view is moving within a narrowing pennant structure. However, this looking increasingly likely to fail, with the bears pressing for a breakout to the downside. 


 

BCH/USD 60-minute chart

The price via the 60-minute chart view was moving within a narrowing range block formation from 18 January. Market bears have managed to smash out to the downside from this, allowing for further selling pressure. 

 

Spot rate:                   321.18

Relative change:       -8.50%

High:                           348.98

Low:                            315.25