Bitcoin Cash Technical Analysis: BCH/USD breaks out to the downside from an ascending wedge, bears looking to take advantage

• Bitcoin Cash price was seen down some 2.50%  on Thursday, as bulls start to lose momentum after solid start to the week.
• BCH/USD bears have broken a rising wedge pattern observed on the 60-minute chart.

BCH/USD 60-minute chart

Spot rate:                                     749.7

Relative change:               -1.80%

High:                                                   785.8

Low:                                                      733.7

Trend:                                                 Bearish

Support 1:                                  733.7, today’s (Thursday) low.

Support 2:                                      717.0, (support on 60-minute chart).

Support 3:                                    702.0, 23.6% Fibonacci.

Resistance  1:                          763.0, 50MA & 100MA.

Resistance 2:                          766.5, 50% Fibonacci.

Resistance 3:                          772.0, underneath broken wedge.