- Bitcoin Cash nursing chunky losses on the day of over 2%, as price remains within bearish trend.
- BCH/USD price stuck within a large descending wedge formation. It is currently hugged very closely to the upper trend line.
BCH/USD 15-minute chart
- Price action is moving within a near-term bearish pennant formation.
Spot rate: 113.39
Relative change: -3.10%
High: 120.19
Low: 111.88
Trend: Bearish
Support 1: 109.17, daily pivot point support.
Support 2: 101.99, daily pivot point support.
Support 3: 96.78, daily pivot point support.
Resistance 1: 121.57, daily pivot point resistance.
Resistance 2: 126.78, daily pivot point resistance.
Resistance 3: 133.96, daily pivot point resistance.
BCH/USD 60-minute chart
- Near-term price action is moving within an ascending channel formation.
BCH/USD daily chart
- Price action is moving within a large descending wedge formation, subject an eventual breakout north.
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