- Bitcoin Cash starts the US session well.
- The psychological 300 level is still nearby but bulls are pulling price away.
- Price is heading close to the triangle apex.
After rejecting higher levels on the candle closes 3 and 4 hours ago the Bitcoin Cash 1-hour chart has started to move higher.
On August 26th, there was a significant support spike marked by very high volume. The move lost momentum at 313-15 which is now the previous wave high that needs to be taken out to make the higher high, higher low formation continue.
The whole of the cryptosphere seems to have lost momentum at the moment with a lack of key fundamental drivers.
Lastly, the RSI is holding above to 50 mid-level but we are far from being in the positive zone. Support levels are at 300, 302.36 and 288.73. Resistance levels are at 313.04, 315 and 323.
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