- Bitcoin Cash is marginally lower today trading 0.22% down for the session.
- The hourly chart has formed a triangle formation and price is headed toward the apex.
BCH/USD 1-Hour Chart
Over the last month, the price of Bitcoin Cash has capitulated from a high of around 308.13 to a low of 192.24.
Since then there has been a small retracement and we find the price in a small retracement phase.
Now the market needs to decide if the downtrend on the higher timeframe will continue.
A break of the pattern will go a long way to help make that decision.
The good news for the bulls is the price is still holding above the 200 psychological level.