- Bitcoin Cash price on Tuesday towards latter part of the session, nursing losses of around 1.2%.
- BCH/USD daily price action has formed a bearish pennant pattern structure, subject to a breakout.
BCH/USD 15-minute chart
- Ascending trend line was supporting update, however ran out of much steam, breaking and retesting.
Spot rate: 115.78
Relative change: -1.25%
High: 118.24
Low: 115.78
Trend: Bearish
Support 1: 116.07, daily pivot point support.
Support 2: 114.78, daily pivot point support.
Support 3: 113.31, daily pivot point support.
Resistance 1: 118.84, daily pivot point resistance.
Resistance 2: 120.31, daily pivot point resistance.
Resistance 3: 121.60, daily pivot point resistance.
BCH/USD 60-minute chart
- Pennant pattern can be seen at a clearer view via the 60-minute chart.
BCH/USD daily chart
- There are some growing vulnerabilities of downside, giving the bearish pennant pattern structure.
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