BCH/USD technical analysis: Trendline break on the 4-hour could send Bitcoin Cash higher
- Bitcoin Cash moves higher as price breaks intraday trendline
- The 300 psychological level has once again been defended
- Next resistance point is at 320.00
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Bitcoin Cash breaks higher on the 4-hour chart as bulls take out a key intraday trendline. Next up the 320 and 330 resistance levels as we head into the mid-US session.
On the support side, 300 has been a formidable support zone which has been tested six times in the last 12 sessions to no avail.
Both the indicators on the chart above have crossed into the positive zone but on the daily have flatlined as volatility remains low.
The main level to break for an upside breakout on the daily chart remains 357 and if bulls manage it, it would indicate a major signal for a potential test of the old highs.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
