Bitcoin Cash Technical Analysis: BCH/USD price action has formed a rising wedge pattern, subject to a break lower
|- Bitcoin Cash is holding modest gains of 0.70% in the latter stages of trading on Thursday.
- BCH/USD price action has formed a rising wedge pattern, which if plays out to the textbook, could see a break lower.
- Near-term downside target can be seen at $1050, lows just seen on 5th June, a key area of support.
BCH/USD 60-minute chart
Spot rate: 1137.80
Relative change: +0.70%
High: 1174.50
Low: 1125.50
Trend: Neutral
Resistance 1: 1170.00, upper part of wedge.
Resistance 2: 1185.80, bottom of channel in view.
Resistance 3: 1205, supply zone.
Support 1: 1132.80. 100MA.
Support 2: 1091.70, (support on 60-minute chart).
Support 3: 1050.00, demand zone.
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