Bitcoin Cash Price Analysis – BCH/USD Moves Up

May 6, 2018

Key points

• The price of Bitcoin Cash has risen above the resistance level of $1550 and $1700.
  There is a critical line of the bullish trend, which is at the level of $1680 on the four-hour chart (Bitstamp data)
  The pair can adjust, but there is strong support at $1650.
  

BCH broke the barrier at $1700 and is likely to be able to hold this position.
There was a continuous increase in the price of Bitcoin Cash from $1,450 a swing low against the US dollar. The price rose higher and overcame many barriers, such as $1,500, $1,550 and $1,700. He even cleared $1800 of barriers and traded up to $1,838 recently. The current price action is super bullish, and it seems that the price may still continue to grow to $1,900 in the near future.
If you look at the chart, if the price is lower, the zone in the amount of 1650-1680 US dollars is likely to become a strong buying zone. On the other hand, the gap above the recent high of $ 1,838 could push the price above $1,900.