- Bitcoin Cash price came under heavy selling pressure on Monday, seen down a chunky 10% in latter part of session.
- BCH/USD forced a big breach from the recent range-bound trading form. Further vulnerabilities are eyed to the downside.
BCH/USD 15-minute chart
- Price retesting a breached consolidation block area, 108.50-112.
Spot rate: 104.80
Relative change: -6.85%
High: 120.85
Low: 104.87
Trend: Bearish
Support 1: 116.74, daily pivot point support.
Support 2: 112.78, daily pivot point support.
Support 3: 108.29, daily pivot point support.
Resistance 1: 125.18, daily pivot point resistance.
Resistance 2: 129.67, daily pivot point resistance.
Resistance 3: 133.62, daily pivot point resistance.
BCH/USD 60-minute chart
- Bears smashed out from range formation, which can also appear to be a bearish flag structure.
BCH/USD daily chart
- BCH/USD was contained within a daily range block, which had confined the price for 17 trading sessions.
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