Bitcoin Cash (BCH) Technical Analysis: BCH/USD evening start pattern, spells danger

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  • Bitcoin Cash price nursing minor losses of some 1% well into the second half of the session on Friday.
  • BCH/USD technical view can see an evening start formation on the daily, which spells disaster. 
  • Eyes will be on a possible reversal given the above mentioned candlestick observation. 

 

BCH/USD daily chart 


 
 

Spot rate:                  570.5

Relative change:      -0.91%

High:                         603.5

Low:                          562.5

 

Trend:                       Bearish.

 

Support 1:                555.4, 38.2% Fibonacci & daily support. 

Support 2:                517.9, 100DMA. 

Support 3:                500.9, 61.8% Fibonacci.

Resistance 1:           589.3, daily resistance & 23.6% Fibonacci. 

Resistance 2:           636.7, 6 November high.

Resistance 3:           65.0, supply area. 

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