Bitcoin Cash Technical Analysis: BCH/USD bullish technical set up eyed

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  • Bitcoin Cash price on Thursday is trading in negative territory down 1% in the latter part of the session.
  • BCH/USD bulls making good progress towards breaking out of a bullish pennant pattern formation. 
  • Next major target for the bulls will be another attempt at the $400 price territory.

Spot rate:                  307.611

Relative change:      -1.10%

High:                         314.56

Low:                          303.93

BCH/USD 60-minute chart

  • Near-term price action is narrowing greatly within a range-block formation, increasing the likeliness of a near-term breakout. 

BCH/USD daily chart

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

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