Bitcoin Cash moves quickly upwards and seeks to escape the annual lows zone

Bitcoin Cash fights to surpass the lows seen in April.
$354 is the average price zone for BCH/USD in the short term.
Only Stellar Lumens outperforms BCH in the Top 10.

Tomas Salles FXStreet

The BCH/USD pair is currently trading at $232.7 after reaching the 23.6% Fibonacci retracement level from the September 19 peak.

Bitcoin Cash is moving higher within a short term bullish channel, which would mark the second resistance level at the $237.2 price level.

The 50% retracement level of the Fibonacci retracement, a level that is statistically easily reached, is at the $269 price level.

The BCH/USD pair has advanced by 5.45 % shortly after the start of the US session.

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Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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