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Bitcoin Cash Price Analysis: BCH/USD narrowing range block subject to an explosive breakout

  • Bitcoin Cash price is trading in the red, with losses of % in the second half of the session.
  • BCH/USD has been forced to consolidate over the last seven sessions, following a strong push north. 
  • Should the barrier at $360 be broken down, the next major price mark will be eyed at $500. 

BCH/USD weekly chart

The bulls are making solid ground, after completing another weekly closure in the green. 

BCH/USD daily chart

Market bulls are trying to break down heavy resistance at $330-365, a breach should open the door to further upside momentum. 

 

Spot rate:                   333.25

Relative change:      +1.75%

High:                           348.01

Low:                            322.38

 

 

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