RATE Group | Eyes on $ 215, with bull pennant on hourly sticks
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Eyes on $ 215, with bull pennant on hourly sticks

14 Dec Eyes on $ 215, with bull pennant on hourly sticks

Posted at 22:24h in Bitcoin News by

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  • The No. 5 cryptocurrency consolidates gains on Saturday.
  • Technical set up remains in favor of BCH bulls, but upside to be limited?

Bitcoin Cash (BCH/USD) built on Friday’s rebound before entering a bullish consolidation this Saturday, as the bulls await a fresh impetus for the next push higher. The world’s fifth-most favorite digital asset, currently, trades close to the 212 level amid quiet trading seen across the crypto space. The coin wavers in nearly $ 2.5 range, having hit a daily high of 213.15 and a daily low of 210.88. The price trades modestly flat on a daily basis while gaining almost 2% over the last 24 hours. The market capitalization for BCH/USD stands at $ 3.85 billion.

BCH/USD 1-hour chart

As observed on the hourly sticks, the price remains trapped in a potential bullish pennant formation (bullish continuation pattern), following a $3+ vertical rise seen in Friday’s European trading. The consolidation suggests the price risks further…

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