Bitcoin Cash Analysis: BCH Approaching Next Crucial Break

Bitcoin Cash 800x600

Bitcoin cash price rallied recently and climbed above the $280 resistance against the US Dollar. The price is currently consolidating above $180 and seems to be setting up for the next break. There is a major breakout pattern forming with resistance near $284 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair could either rally again above $285 or it might extend its correction to $260. Bitcoin cash price is trading in a nice uptrend above $280 against the US Dollar. BCH/USD is likely to surge above $300 once it clears the $285 resistance area. Bitcoin Cash Price Analysis In the past few days, there was a strong rise in bitcoin cash price above the $265 and $280 resistance levels. Moreover, there was a close above the $280 barrier and the 55 simple moving average (4-hours). It opened the doors for more gains and the…

Read the original article here