RATE Group | BCH/USD tight range formation subject to an explosive breakout
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BCH/USD tight range formation subject to an explosive breakout

28 Apr BCH/USD tight range formation subject to an explosive breakout

Posted at 16:57h in Bitcoin News by

  • Bitcoin Cash price is trading in the red, with losses of 0.90% in the second half of the session.
  • BCH/USD is consolidating below a critical barrier at $250. 
  • Should the bulls break above the noted resistance area, it could quickly restore buyer faith.

BCH/USD daily chart

A critical ascending trend line of support should be noted tracking around $225, which has been in play since 22 March. 

BCH/USD 60-minute chart

Price action via the 60-minute chart view remains choppy and very much range-bound. The low down at $235, the high area at $248. 


 

Spot rate:                240.87

Relative change:    -0.90%

High:                        243.43

Low:                         237.48

 

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