Bitcoin Cash trades over 21% higher on Thursday as crypto sentiment bounced. There is a harmonic pattern that has emerged on the 1-hour chart. BCH/USD 1-hour chart The price of Bitcoin Cash has shot up after most majors bounced on Thursday. This is in stark contrast to the fall over the last month or so. From its peak in February, the price has fallen 72% at its lowest recent point. Now the market has started to consolidate and has pushed up. The main consolidation high has been broken and now there is a decent potential resistance zone. Looking closer at the chart, The Fibonacci extension and retracement now have a confluence area close to the 270.0 level. The retracement was respected at the 23.6% level and now the 161.8% extension and 38.2% retracement are halting any short term move higher. The main rationale for the potential bullish move from here is the 61.8% Fib retracement level matching the 261.8% extension zone. They are both strong Fib numbers and if there is a break higher it could be an area where the bulls might target. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next ECB’s de Guindos: European fiscal response to crisis needed FX Street 2 years Bitcoin Cash trades over 21% higher on Thursday as crypto sentiment bounced. There is a harmonic pattern that has emerged on the 1-hour chart. BCH/USD 1-hour chart The price of Bitcoin Cash has shot up after most majors bounced on Thursday. This is in stark contrast to the fall over the last month or so. From its peak in February, the price has fallen 72% at its lowest recent point. Now the market has started to consolidate and has pushed up. The main consolidation high has been broken and now there is a decent potential resistance zone. Looking closer at the chart,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
