Bitcoin Cash technical analysis: BCH/USD bulls need to breakdown $425-50 range for greater upside pressure

• Bitcoin Cash price on Thursday in the second half of the session is nursing losses of some 2%.  
• BCH/USD like many of its peers’ price action remains intact of a bullish pennant structure.  
• The next major barrier to the upside is seen between $425-50 range.  

Spot rate:                  408.88

Relative change:       -2.10%

High:                         418.00

Low:                          404.68

BCH/USD 60-minute chart

• Near-term ascending trend line via the 60-minute is providing necessary cushion for the bulls.  

BCH/USD daily chart

• Bullish pennant continues to contain the price at present, still subject to a breakout north.