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  • Bitcoin Cash price is trading in the green, up 4.00% the session on Monday.
  • BCH/USD price action is largely capped to the upside by daily resistance at $230.
  • Trading conditions over the last four sessions have been narrow, as the price consolidates.

 

Spot rate:                   227.00

Relative change:       +4.00%

High:                          230.95

Low:                           212.32

 

BCH/USD daily chart

Price action is moving within a daily pennant pattern formation, expressing potential vulnerabilities to the downside.  

 

BCH/USD 60-minute chart

Supply can be seen acting preventing the price moving beyond $230 via the 60-minute chart view.