Bitcoin Cash Technical Analysis: Nice technical pattern formation on the hourly chart

  • 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.

Bitcoin Cash

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