- Bitcoin Cash price on Wednesday seen trading in very minor positive territory, up just 0.9%, after being up as much as 4% earlier in the day.
- BCH/USD price action is moving within a rising wedge formation, subject to breakout to the downside.
BCH/USD 15-minute chart
Spot rate: 97.65
Relative change: +0.90%
High: 99.90
Low: 96.56
Trend: Bearish
Support 1: 96.37, lower part of channel.
Support 2: 91.38, daily pivot point support.
Support 3: 87.22, daily pivot point support.
Resistance 1: 100.64, daily pivot point resistance.
Resistance 2: 105.75, daily pivot point resistance.
Resistance 3: 109.90, daily pivot point resistance.
BCH/USD 60-minute chart
- Bulls pushed above a descending trend line that was causing near-term resistance.
BCH/USD 4-hour chart
- Price moving within the ascending wedge pattern, which does appear vulnerable to a potential breakout to the downside.
Share
