- Bitcoin Cash down over 8% well into the second half of Monday’s session.
- BCH/USD price action is forming a worrying bearish pennant pattern.
- Vital near-term support is eyed at $260, a breach could be catastrophic, opening door to fresh wave of selling pressure.
BCH/USD 4-hour chart
Spot rate: 270.0
Relative change: -8.65%
High: 371.0
Low: 248.9
Trend: Bearish
Support 1: 260.90, lower support of pennant.
Support 2: 248.9, session low.
Support 3: 200.0, psychological support.
Resistance 1: 340.8, upper part of pennant.
Resistance 2: 375.0, supply area.
Resistance 3: 464.1, 15 November high.
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