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  • Bitcoin Cash price late in the session on Thursday is trading down in the red by around 1%.  
  • BCH/USD price action via the daily chart view has managed to escape a descending wedge formation.  
  • Given the recent technical development, the price has room to potentially retest the $300 price mark.

Spot rate:                  264.12

Relative change:      -1.30%

High:                         276.88

Low:                          261.56

BCH/USD 60-minute chart

  • Bitcoin Cash price action is moving within a near-term bullish flag formation, subject to a potential breakout higher.  

BCH/USD daily chart

  • Price action has edged out from a descending wedge pattern formation, leaving room for the bulls to capitalize on the breach.