Home Bitcoin Cash Technical Analysis: BCH/USD price broke out of bear flag pattern, oh dear here come the bears again

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Bitcoin Cash Technical Analysis: BCH/USD price broke out of bear flag pattern, oh dear here come the bears again

FX Street

Updated: 14 Aug. 2018 | 17:34

Bitcoin Cash nursing some chunky losses on Tuesday, just shy of double digits over 9.5%.
BCH/USD price breaks out of a bearish flag formation, inviting further selling.

BCH/USD daily chart

Spot rate: 479.0

Relative change: -9.70%

High: 531.6

Low: 471.1

Trend: Bearish.

Support 1: 475.0, (support on 30-minute chart).

Support 2: 471.1, today’s (Tuesday) low.

Support 3: 412.8, consolidation area November, prior to 2017 bull run.

Resistance 1: 484.3, underneath bearish flag.

Resistance 2: 498.9, upper part within bearish flag.

Resistance 3: 510.0, 50MA.

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