Bitcoin Cash has been performing exceptionally well for the past 48 hours. It has gained 135%, moving from the $520 all the way up to $1200.
But now it is meeting the first resistance that could potentially result in a correction towards the previous resistance, which now is the support - $900. Although the trend remains very bullish and breaks above the $1230 resistance should not be a surprise.
In case BCH/USD will go further up, the next obstacle will be the $1660, but perhaps it will not stop even there.
Anyway, those two are the current resistance levels, $1230 and $1660, both of which should be watched for either a breakout or a rejection.
But now it is meeting the first resistance that could potentially result in a correction towards the previous resistance, which now is the support - $900. Although the trend remains very bullish and breaks above the $1230 resistance should not be a surprise.
In case BCH/USD will go further up, the next obstacle will be the $1660, but perhaps it will not stop even there.
Anyway, those two are the current resistance levels, $1230 and $1660, both of which should be watched for either a breakout or a rejection.
Trade closed: target reached