Bitcoin Cash Technical  Analysis: BCH/USD suffers huge losses reversing the large early September gains

• Bitcoin Cash battered on Wednesday, dropping as much as 10% in the session.
• BCH/USD caught for the time being by some near-term support, tracking just ahead of $550.

BCH/USD 60-minute chart  

Spot rate:                    258.42

Relative change:        -9.44%

High:                           287.97

Low:                            250.93

Trend:                         Bearish

Support 1:                   558.0, near-term ascending trend line.  

Support    2:                  546.5,  demand area.

Support    3:                  525.0, bottom area 27th & 30th August.

Resistance 1:              568.5, top area seen 28th, 29th August & 5th September.

Resistance 2:             575.5, 22nd August high.

Resistance 3:             580-575.0, chunky supply area.