BCH/USD consolidating after a critical breakout

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  • Bitcoin Cash price is trading in the green, with gains of 1.50% in the second half of the session.
  • BCH/USD price action remains narrow following the bulls pushing above a pennant. 
  • There is still much supply within the region of $225-50 that the bulls will need to break down. 

 

BCH/USD daily chart

Conditions via the daily have offered little in terms of direction. The price is capped to the upside at $230, to the downside at $200.

 

BCH/USD 60-minute chart

A range block is containing price action at present, the next breakout could be trend defining for the near-term. 

 

Spot rate:                223.88

Relative change:    +1.30%

High:                        228.17

Low:                         218.24

 



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