Long
Bitcoin Cash Rejects Lower Levels
Bitcoin Cash has tested some levels in the lower $1,200 handle. Thankfully, it rejected these and rebounded to $1,275, which appears to be a very strong level. Currently, it corresponds with the central moving average of the KRI. If current prices do not hold, we'll have support from $1,200, as well as Fibonacci levels at $1,144, $965, then the lower bound of the KRI at $1,075. If momentum reignites, we must break through the central moving average of the KRI currently at about $1,275, where BCH is currently hovering. Then we will need to best $1,400, $1,438, $1,500, and $1,522. The upper bound of the KRI will be the next point of resistance at $1,532, then after that, $1,764, the lower anchor of our nested Fibonacci levels, seems to be a reasonable target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.