Bitcoin Cash price analysis: BCH/USD consolidates gains; Brian Kelly triggered self-fulfilling prophecy
|- Brian Kelly promoted Bitcoin cash speaking on CNBC.
- Break above $900 will take BCH to $1,000.
BCH is trading at $884, having tested $900 mark during early Asian hours. The coin has entered a consolidation mode after an extensive growth.
Bitcoin Cash gained over 18% on Wednesday after Brian Kelly, founder, and CEO of BKCM LLC said that he was buying BCH in the interview with CNBC's Fast Money. He mentioned bullish technical setups and stressed that he was not a particular fan of either BTC or BCH.
"Some people are saying, which is the real Bitcoin. That's the big argument about it. I am not taking sides. I am the guy who just wants to buy low and sell high. But it comes down to what is the real Bitcoin and what is the true so called Satoshi vision. I let everybody else decide, I just wanna make money," he explained.
Bitcoin Cash technical picture
From the technical point of view, BCH/USD reached an important resistance level, created by psychological $900, intensified by daily 50-EMA. Most likely, it will cap the upside for the time being, though, once it is broken, the bullish momentum will become strong enough to take the coin to $1,000 and, probably, $1,100 (100-EMA). On the downside, the support comes at $800 and followed by $760 (200-EMA, hourly chart).
Bitcoin Cash, the daily chart
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