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  • Bitcoin Cash price is trading in the red, up with losses of 3.25% the session on Thursday.
  • BCH/USD bulls managed to break free from a bearish pennant structure and is at present seeing a retest.  
  • The price must hold the retest or be forced back within the narrow range and be subject to further downside pressure.  


BCH/USD daily chart

There is plenty of room for the price to push firmly back within the $300 territory, given the recent pennant breakout.  

BCH/USD 60-minute chart

A critical ascending trend line of support is tracking at $230-228, it could also be a potential head and shoulders structure.  


Spot rate:                   238.74

Relative change:       -3.25%

High:                          240.30

Low:                           229.35