Bitcoin Cash Technical Analysis: BCH/USD completes breakout and retest of bearish pennant
|- Bitcoin Cash price on Wednesday trading in the red, down some 1% late in the session.
- BCH/USD sees a breakout and retest out from a bearish pennant structure
BCH/USD 15-minute chart
- Price action in near-term consolidation mode, moving within range-block formation.
Spot rate: 114.70
Relative change: -1.00%
High: 121.03
Low: 109.91
Trend: Bearish
Support 1: 115.05, daily pivot point support.
Support 2: 114.06, daily pivot point support.
Support 3: 112.54, daily pivot point support.
Resistance 1: 117.57, daily pivot point resistance.
Resistance 2: 119.10, daily pivot point resistance.
Resistance 3: 120.09, daily pivot point resistance.
BCH/USD 60-minute chart
- Heavy near-term supply running into $120 area, limiting upside.
BCH/USD daily chart
- Price action has broken and retested a bearish pennant pattern structure.
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