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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin Cash Until Breakout, Pull Back More Likely

Bitcoin Cash drops as the price of Bitcoin is trading in the red. It could come back down to test and retest the immediate downside obstacles. The price is located within a support zone, so we'll have to wait for confirmation before going long again.

A potential growth registered by Bitcoin will signal that the altcoins will jump higher as well.

BCH/USD Found Temporary Resistance!

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BCH/USD has found resistance at S1 (496.65) and now it could come back to 445 static support. Moving sideways above this downside obstacle and staying above the S2 (437.30) and above the lower median line of the ascending pitchfork could bring is new long opportunities.

Technically, jumping and stabilizing above the S1 (496.65) could activate a potential growth towards new upside obstacles.

Outlook!

Buy BCH/USD if it jumps and closes above 497.13 immediate high. The 558 and 608.82 levels are seen as upside targets.

The material has been provided by InstaForex Company - www.instaforex.com