- Bitcoin Cash sees bearish candlesticks forming on the 60-minute chart view.
- BCH/USD at risk of erasing Monday gains, next buying zone back at $825.
The Bitcoin Cash price failed to sustain early upside momentum, after price briefly managed to move about the $900 area. Like several of the other major altcoins, BCH/USD ran into a supply zone, which caused some issues during 14th June highs, sending price back down to $800 territory.
BCH/USD made a decent move higher during Monday’s session, the price had jumped around 6%, before easing slightly. Since the highs on Monday, the price has formed a bullish flag as seen on the 60-minute time frame, however, the textbook pattern will need support at $877 to hold, otherwise could look to drop quite heavily south.
Technically, should the above support not come into play, then there could be a fast drop erasing Monday’s gains, back down to $825, where a demand zone awaits. The candlesticks on the 60-minute chart for BCH/USD are indicating of further bearish price action, long wicks and a gravestone doji seen.
BCH/USD 60-minute chart
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