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  • Bitcoin Cash on Wednesday is trading in negative territory in the latter stages of the session, down just over 1%.
  • BCH/USD bears gunning for a retest of breached descending wedge pattern.
  • The pullback could see the upper trend line touched, tracking at $127, which will be eyed for support.  

 

Spot rate:                  130.69

Relative change:       -1.11%

High:                         133.06

Low:                          128.55

 

Trend:                        Bullish

 

Trends:
       Daily SMA20:  132.1355
       Daily SMA50:  126.1586
       Daily SMA100:  136.4749
       Daily SMA200:  311.2213
Levels:
       Previous Daily High:  132.9466
       Previous Daily Low:  122.3233
       Previous Weekly High:  156.9334
       Previous Weekly Low:  125.1897
       Previous Monthly High:  156.9334
       Previous Monthly Low:  109.9144
       Daily Fibonacci 38.2%:  128.8885
       Daily Fibonacci 61.8%:  126.3814
       Daily Pivot Point S1:  125.0579
       Daily Pivot Point S2:  118.3789
       Daily Pivot Point S3:  114.4346
       Daily Pivot Point R1:  135.6812
       Daily Pivot Point R2:  139.6255
       Daily Pivot Point R3:  146.3044

BCH/USD 60-minute chart

  • Price action via the 60-minute chart view is moving within a bullish pennant pattern formation.

BCH/USD daily chart

  • Following the price breaking out from a bearish descending wedge pattern, a retest is currently eyed.