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  • Bitcoin Cash was seen trading down losses over 4.5% in the start of the week on Monday.  
  • BCH/USD bears managed to break a supporting trend line, with a secondary bit of support coming into play.
  • Should the pressure remain to the downside, BCH/USD will be vulnerable to giving up $500 territory.  

 

 

BCH/USD 60-minute chart


 

Spot rate:                    545.4

Relative change:        -4.55%

High:                           576.8

Low:                            535.0

Trend:                         Bearish
 

Support 1:                   538.9, secondary ascending trend line.    

Support    2:                  515.0-500.0, support on 60-minute chart & demand area.

Support    3:                  470.1, 14 August low.  

Resistance 1:              554.3, 100MA.  

Resistance 2:             557.6, 50MA.  

Resistance 3:             565.6,  underneath original breached ascending trend line.