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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.