Bitcoin Cash technical analysis: BCH/USD breakout is imminent giving extreme price narrowing

• Bitcoin Cash price on Thursday is trading in minor negative territory, with losses of some 1.25%.  
• BCH/USD made a decent push in the session on Wednesday to break out of a bearish pennant structure.  
• A retest has seen been observed of the noted pennant since the daily escape.  

Spot rate:                  324.14

Relative change:       -1.25%

High:                          329.06

Low:                           318.10

BCH/USD 60-minute chart

• BCH/USD near-term bullish flag structure subject to a breakout by the bulls.  

BCH/USD daily chart

• Price action is retesting a breached bearish pennant structure, following the bulls breaking out.