Bitcoin Cash is trading in the green at 247.86 at the time of writing. The bias is bullish in the short term, so further growth is natural. Bitcoin’s rally helped the altcoin to jump higher as well.
BCH/USD increased by 23.35% from 206.50 October’s low to yesterday’s high of 254.71. In the short term, temporary retreats could bring new longs.
BCH/USD Below 255.85 Obstacle!
Technically, altcoin rallied after escaping from the flag pattern and after failing to retest the uptrend line.
Now, it’s targeting the 255.85 former high which represents a key resistance level. It remains to see how it reacts around it. False breakouts may announce a new sell-off.
BCH/USD Forecast!
Jumping and stabilizing above 255.85 activates further growth and represents a potential long opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin Cash is trading in the green at 247.86 at the time of writing. The bias is bullish in the short term, so further growth is natural. Bitcoin’s rally helped the altcoin to jump higher as well.
BCH/USD increased by 23.35% from 206.50 October’s low to yesterday’s high of 254.71. In the short term, temporary retreats could bring new longs.
BCH/USD Below 255.85 Obstacle!
Technically, altcoin rallied after escaping from the flag pattern and after failing to retest the uptrend line.
Now, it’s targeting the 255.85 former high which represents a key resistance level. It remains to see how it reacts around it. False breakouts may announce a new sell-off.
BCH/USD Forecast!
Jumping and stabilizing above 255.85 activates further growth and represents a potential long opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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