Home Bitcoin Cash Technical  Analysis: BCH/USD dealt a hammer blow by bears, forced to receive support from key near-term area
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Bitcoin Cash Technical  Analysis: BCH/USD dealt a hammer blow by bears, forced to receive support from key near-term area

  • Bitcoin Cash (BCH) price dealt another blow on Wednesday, down over 1.5% in the latter stages of the session.
  • BCH/USD forced to retreat and receive support from a near-term ascending trend line.

 

 

BCH/USD 60-minute chart  

 
 

Spot rate:                   513.3

Relative change:       -1.55%

High:                          520.5

Low:                           509.1

 

Trend:                        Bearish

 

Support 1:                 510.5, ascending trend line.

Support  2:                 503.1,  6 October low.

Support  3:                 500.0, psychological support level.    

Resistance  1:            522.0, resistance on 60-minute chart.

Resistance  2:            532-535.0, supply zone.

Resistance  3:            550.0, heavy supply area.

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