Bitcoin Cash Technical Analysis: BCH/USD bulls break stubborn resistance to gains over 5%
|- Bitcoin Cash price on Wednesday seen up some 5% in the latter part of the session.
- BCH/USD bulls have cleared a long-running descending trend line, leaving door open to greater upside.
BCH/USD 15-minute chart
- Price action has broken out to the upside from a pennant pattern structure.
Spot rate: 132.81
Relative change: +5.02%
High: 134.94
Low: 126.58
Trend: Neutral
Support 1: 118.55, daily pivot point support.
Support 2: 109.72, daily pivot point support.
Support 3: 103.51, daily pivot point support.
Resistance 1: 133.59, daily pivot point resistance.
Resistance 2: 139.81, daily pivot point resistance.
Resistance 3: 148.63, daily pivot point resistance.
BCH/USD 60-minute chart
- Price action is moving within the confinements of a range block formation.
BCH/USD daily chart
- BCH/USD daily edges over long-running descending trend line, but still stuck in stubborn daily range.
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