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  • Bitcoin Cash price on Friday is on the back foot, down in negative territory by some -2.5% in the second half of the session.
  • BCH/USD price action is moving within a bullish pennant pattern formation.  
  • Next major target for the bulls will be for a return up to the $400 price territory.

 

Spot rate:                   299.13

Relative change:       -2.50%

High:                          306.61

Low:                           290.14

BCH/USD 60-minute chart

  • Price action is narrowing, chunky demand protecting the price at $290, resistance to the upside capped by a descending trend line, $300-305.    

BCH/USD daily chart

  • Price action consolidating within a bullish pennant pattern formation, subject to a breakout higher.