Bitcoin Cash surprised many this month by recording massive gains compared to the other crypto’s, including BTC. Lets have a look at what the charts have to say.
There are contradicting signals here so my best advice would be to be patient. We can see some support around $1300, it could be a new floor being built by the bulls before yet another leg up.
On the flip side of the coin, we have a possible bear flag candlestick formation, and that could mean further correction is needed after that little bull run.
Resistance seems quite solid around $1400, so in this case I will wait while the bulls and bears battle it out.
Should $1300 fail as support on the near term, I will look to lower prices to play a possible bounce. Safe trades.