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Bitcoin Cash technical analysis: BCH/USD bulls looking for a big escape from bearish technical structure

FX Street

Updated: 31 Jul. 2019 | 20:02

Bitcoin Cash price on Wednesday is trading in positive territory, holding gains of over 2%.
BCH/USD bulls are trying to defy odds by breaking out from a bearish pennant set up.
Heavy near-term supply limiting upside is seen running from $330-340 range.

Spot rate: 325.29

Relative change: +6.50%

High: 337.91

Low: 317.58

BCH/USD 60-minute chart

There is supply observed running from $330-340, the last potential barrier ahead of a $400 return.

BCH/USD daily chart

Bulls are pressing for a daily breakout and closure above a bearish pennant.

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