Bitcoin Cash technical analysis: BCH/USD bulls have the room to run further north

October 9, 2019 Off By admin-445
  • Bitcoin Cash price is trading in the green, up with gains of 2.80% the session on Wednesday.
  • BCH/USD bulls managed to break free from a narrowing range block formation, leaving room for greater upside.  
  • The price is trading at the highest levels seen in over two weeks, as the momentum swing back into the bulls favour. 

 

BCH/USD daily chart

The next major area of interest for the bulls will likely be the pychological $300 price territory, given the recent breakout. 

BCH/USD 60-minute chart

There is near-term supply seen via the 60-minute chart at $240 capping upside for now. 

 

Spot rate:                  238.74

Relative change:      +2.80%

High:                         241.94

Low:                          228.27

 

 

Source: www.forexcrunch.com