Bitcoin Cash Technical Analysis: BCH/USD bulls are free but must capitalize on latest breakout
|- Bitcoin Cash price nursing minor losses on Monday of just some 0.6%, towards back end of session.
- BCH/USD price action was contained within a descending channel/flag pattern, which has since seen the bulls breach.
- Should the bulls capitalize on the recent breakout, another test of the chunky supply within $650, will likely be on.
BCH/USD 4-hour chart
Spot rate: 531.0
Relative change: -0.75%
High: 543.6
Low: 504.6
Trend: Bearish/Neutral
Resistance 1: 545.0, resistance on 4-hour chart.
Resistance 2: 569.2, 50MA & supply area.
Resistance 3: 645.4, strong supply area & 7 November high.
Support 1: 523.9, on top of breached channel.
Support 2: 506.5, 100MA.
Support 3: 481.7, lower support of descending channel.
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