Bitcoin Cash Price Bounced Back

Bitcoin cash BCH price bounced back sharply from the $825 support level position against the US Dollar.

During 24 hours highlighted key bearish pattern trend level with resistance at $840 was a barrier on the hourly chart of the BCH/USD pair (data feed from Kraken).

The BCH/USD pair is currently trading just below the $890-900 resistance, and it may soon this support level."Bitcoin Cash Price Bounced Back"

Bitcoin cash bch price is showing positive pattern signs above $850 against the US Dollar. BCH/USD is likely to continue higher above the $890-900 resistance level.

Bitcoin Cash Price Trend

There was a test of an important support level at $820 by bitcoin cash price recently against the US Dollar. The bch price found strong buying signals and started an upside move above the $850 line. There was a break above the 50% Fib retracement level of the last decline from the $905 high to $825 low. now It opened the doors bullish pattern for more gains and the price jumped further above $850.

During 24 hours most highlighted key bearish trend line with resistance at $840 was breached on the hourly chart of the BCH/USD pair. The pair also traded above the $880 level and it almost tested the $900 level. A high was formed at $898 before the price started consolidating gains. An initial support level is around the 23.6% Fib retracement support level of the last pattern from the $826 low to $898 high. There may be more downsides candles in the near graph, but supports such as $880 and $850 are likely to prevent losses.

Bitcoin Cash Price Analysis BCH USD

Looking at the above chart, the BCH/USD pair is jump the price and placed nicely above the $850 Support level. Therefore, there are strong chances of an upside in bch market and break pattern above the $900 and $908 resistance levels. The next support level for bitcoin cash is above $908 is around the $950 pivot level.

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