Bitcoin Cash Technical Analysis: BCH/USD is punished by the biting bears, with now the $600 territory in serious danger

• Bitcoin Cash hammered on Wednesday, down a chunky 7%, with mass crypto selling seen.
• BCH/USD at threat of breaching the key area of $650-600, which could open the gates to a fresh bout of selling.  

BCH/USD daily chart

Spot rate:                    612.0

Relative change:        -7.01%

High:                          657.0

Low:                           600.1

Trend:                         Bearish

Support 1:                  600.1, vital demand zone.  

Support 2:                  523.5, 8th November 2017 low.  

Support 3:                    412.8, (support on daily chart).

Resistance 1:             656.5, low 28th/29th June.

Resistance 2:             750, 50DMA.

Resistance 3:             836.5, (resistance on daily chart).