Bitcoin Cash (BCH) price dealing with profit taking

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  • BCH/USD sees bears pile in, after entering chunky touted supply area, heading into $650 territory.
  • Poloniex announces pre-fork trading for Bitcoin Cash split, however deposit and withdraws relating to, cannot be done until after successful fork has taken place.
  • Next major area of interest to the downside, seen at the psychological $500 mark.

 

BCH/USD daily chart 


 
 

Spot rate:                  593.1

Relative change:      -1.80%

High:                         606.4

Low:                          584.0

 

Trend:                       Bearish

 

Support 1:                591.2, lower support of channel.

Support 2:                587.1, daily pivot point support.

Support 3:                565.8, daily pivot point support.

Resistance 1:           611.8, upper part of channel.

Resistance 2:           626.1, resistance 60-minute.

Resistance 3:           645.0, supply area.

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