Bitcoin Cash soars 3.6% on Thursday and reclaims support at $330. BCH/USD nurtures a breakout above the head-and-shoulders pattern. Bitcoin Cash is in a bullish recovery phase after a gruesome dip to $300. Recovery has been lethargic but steady. On Thursday, BCH/USD is up 3.6% compared to Bitcoin (BTC)’s 1.98% and Ethereum (ETH)’s 1.46%. The gains come after the formation of a head-and-shoulders pattern. Reaction to this pattern is likely to place Bitcoin Cash in the trajectory towards $350 and $400 respectively. In the meantime, BCH/USD is trading at $332 after reclaiming the support above $330. Technical levels suggest that the bullish action could last throughout the European session. An up-trending RSI is almost crossing above the average (at 50). Further, advancement towards the overbought could encourage the bulls to increase their positions. The MACD also supports the bullish action as the signal line grinds into a bullish divergence. Bitcoin Cash critical support and resistance areas Resistance 1: $341 – Fibonacci 38.2% one-week. Resistance two: $345 – Fibo 161.8% one-day. Support one: $331 – Pivot point one-day resistance one. Support two: $325 – Previous low 1-hour and the Bollinger Band 4-hour middle BCH/USD daily chart 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 JPY Futures: Further rangebound on the cards FX Street 2 years Bitcoin Cash soars 3.6% on Thursday and reclaims support at $330. BCH/USD nurtures a breakout above the head-and-shoulders pattern. Bitcoin Cash is in a bullish recovery phase after a gruesome dip to $300. Recovery has been lethargic but steady. On Thursday, BCH/USD is up 3.6% compared to Bitcoin (BTC)’s 1.98% and Ethereum (ETH)’s 1.46%. The gains come after the formation of a head-and-shoulders pattern. Reaction to this pattern is likely to place Bitcoin Cash in the trajectory towards $350 and $400 respectively. In the meantime, BCH/USD is trading at $332 after reclaiming the support above $330. Technical levels suggest that… 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.
