Bitcoin Cash Technical Analysis: BCH/USD breakout and retest, enough incentive for the bulls to run

• Bitcoin Cash price is outperforming many of its peers, holding decent gains over 3% in the session.
• BCH/USD price action broke out of a descending channel and has observed a retest, playing by the book technically.  

BCH/USD 60-minute chart  

Spot rate:                   534.1

Relative change:       +3.15%

High:                          555.0

Low:                           507.3

Trend:                        Bullish

Resistance  1:            538.6, 100MA & resistance on 60-minute.

Resistance  2:            567.5, 10 November high.

Resistance  3:            593.0, 4 November high.

Support 1:                 525.4,  50MA.  

Support  2:                 499.2, on top of breached descending channel.

Support  3:                 460.7, support on 60-minute.