Bitcoin Cash price analysis: This breakout has some legs; Norway's central bank to continue study of own digital currency
|- BCH breaks out on short term charts, has some more upside.
- Norges Bank extentds time to study its own crypto.
Bitcoin Cash, which had fallen off quite a lot after April's rally is biggest gainer of the day in Sunday's trading and has broken out of an important resistance on the short term charts which gives BCH bulls enough mojo to take prices higher some more.
BCH/USD is up more than 4 percent in Sunday trading at $1,228, after hitting a high of $1,250. Bitcoin Cash has broken out of a flattened descending trendline on the 15-minute chart and this gives enough momentum to carry on the rally towards $1,280 and 1,340 which are possible targets where BCH should fin some resistances.
Among the central bankers and governments who are considering their own cryptos, Norway's central bank is one too, which has extended study to launch its own digital currrency on Friday after we reported on Friday that Switzerland called for study to have an 'e-franc'.
BCH/USD 15-minute chart:
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