- Bitcoin Cash price is trading in the red, with losses of 5.00% in the second half of the session.
- BCH/USD price action is consolidating following the fresh heavy selling pressure.
- Price action moving within another near-term bearish pennant structure.
BCH/USD daily chart
Critical demand zone should be noted at a range of $280 down to $270.
BCH/USD 30-minute chart
Near-term is subject to further potential downside pressure, as price moves within pennant pattern.
Spot rate: 290.35
Relative change: -5.00%