Bitcoin Cash Technical Analysis: BCH/USD price is vulnerable to downside shocks, given range-block formation
|- Bitcoin Cash price through the mid-point of the day is seen trading up with minor gains of 1%.
- BCH/USD remains vulnerable to downside risks, given range-block formation.
BCH/USD 15-minute chart
- Price action is moving within an ascending wedge pattern, which by the textbook is vulnerable to a breach south.
Spot rate: 128.03
Relative change: +1.09%
High: 130.70
Low: 126.15
Trend: Bullish
Support 1: 123.03, daily pivot point support.
Support 2: 119.68, daily pivot point support.
Support 3: 114.57, daily pivot point support.
Resistance 1: 131.49, daily pivot point resistance.
Resistance 2: 136.60, daily pivot point resistance.
Resistance 3: 139.95, daily pivot point resistance.
BCH/USD 60-minute chart
- BCH/USD has formed a potential flag pattern structure, subject to a breakout south.
BCH/USD daily chart
- Price action is stuck within a range-block formation seen via the daily, subject to a break south.
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