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Bitcoin Cash technical analysis: BCH/USD remains within large bearish pennant structure

FX Street
Published date:
  • Bitcoin Cash price is trading in the red, down over 4.60% the session on Thursday.
  • BCH/USD price action is moving within a large daily pennant pattern, subject to a breakout
  • The price has also formed an ascending channel formation, which could be capitalized on by the bears.  

Spot rate:                   294.03

Relative change:       -4.60%

High:                          310.14

Low:                           309.04

 

BCH/USD daily chart

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

BCH/USD 60-minute chart

  • The price is moving within a bearish pennant formation, as the price consolidates from steep fall in the session.  

FX Street

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