RATE Group | BCH/USD bears smash out of rising wedge structure
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BCH/USD bears smash out of rising wedge structure

10 Aug BCH/USD bears smash out of rising wedge structure

Posted at 03:07h in Bitcoin News by

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  • Bitcoin Cash price in the session on Friday is trading firmly in the red, down some 6.0%.
  • BCH/USD bears force price out from a rising wedge structure, allowing for a bout of selling pressure. 
  • Potential head and shoulders pattern eyed via the daily chart view. 

 

Spot rate:                 313.65

Relative change:      -3.50%

High:                         334.26

Low:                          307.27

BCH/USD daily chart

  • Price action has broken out from a rising wedge structure, allowing a fresh wave of selling pressure.

BCH/USD 60-minute chart

  • The bears breached a pennant structure via the 60-minute chart view. 

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