- Bitcoin Cash price on Thursday is trading in negative territory by 4.25%. It is one of the under-performers across the larger altcoins.
- BCH/USD price action had done little over the past two weeks, narrowing, However that has come to a change with the recent breakout south, from the range and the pennant.
- The price formation via the daily is producing a potential head and shoulders structure.
Spot rate: 279.80
Relative change: -4.25%
High: 291.82
Low: 276.41
BCH/USD daily chart
- The price has extended out from a bearish pennant structure, as price heads towards a neckline of a h & s pattern.
BCH/USD 60-minute chart
- Price action has broken out from a narrowing range, $3150-300, which invited a strong wave of pressure.
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