Bitcoin Cash Technical Analysis: BCH/USD price broke out of bear flag pattern, oh dear here come the bears again

• Bitcoin Cash nursing some chunky losses on Tuesday, just shy of double digits over 9.5%.
• BCH/USD price breaks out of a bearish flag formation, inviting further selling.

 

BCH/USD daily chart

 

Spot rate:                   479.0

Relative change:       -9.70%

High:                          531.6

Low:                           471.1

Trend:                        Bearish.
 

Support 1:                 475.0, (support on 30-minute chart). 

Support 2:                 471.1, today’s (Tuesday) low. 

Support 3:                 412.8, consolidation area November, prior to 2017 bull run.

Resistance 1:            484.3, underneath bearish flag.

Resistance 2:            498.9, upper part within bearish flag.

Resistance 3:            510.0, 50MA.