Bitcoin Cash technical analysis: BCH/USD bullish flag or channel of death

• Bitcoin Cash price is trading in the red, down over 4% the session on Tuesday.
• BCH/USD price action is descending, moving within a channel structure, which can also be perceived as a bullish flag.  
• The price is trading ever so close to a critical ascending trend line of support.

Spot rate:                   298.51

Relative change:       -4.10%

High:                          315.14

Low:                           291.04

BCH/USD 60-minute chart

• Price action stuck within a descending channel structure, which could also potentially be a bullish near-term flag.

BCH/USD daily chart

• The price is flirting with a critical ascending trend line of support, a breach could cause a stronger wave of selling pressure.