Home Bitcoin Cash Technical  Analysis: BCH/USD has formed a dangerous looking bearish pennant pattern
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Bitcoin Cash Technical  Analysis: BCH/USD has formed a dangerous looking bearish pennant pattern

  • Bitcoin Cash (BCH) was trading firmly in the red on Thursday, down some 12.5% in the latter stages of the session.
  • BCH/USD price action since bouncing from the session lows, has formed a bearish pennant pattern.

 

 

BCH/USD 60-minute chart  


 
 

Spot rate:                   449.5

Relative change:       -12.55%

High:                          516.1

Low:                           438.6

 

Trend:                        Bearish

 

Support 1:                 448.3, support on 60-minute chart.

Support  2:                 440.2,  demand zone.

Support  3:                 425.2, 25 September low.

Resistance  1:            454.4. upper part of pennant pattern.

Resistance  2:            460.0, resistance on 60-minute chart.  

Resistance  3:            470.5, supply area.  

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