#17941
margincall
margincall
Keymaster

Bitcoin Cash has been mirroring Bitcoin vs USD to some degree, we can see similar price action in the markets.

bchusd price forcecast 18 July 2018

As we can clearly see there is some selling action between $800 – $900, this is expected as some traders are locking in their recent gains. Corrections in the market after market movements like this is quite normal.

I would expect the shorter term support to get tested before we attempt to go to higher price levels vs the US Dollar. Traders looking for fiat gains can look towards Bitcoins perfomance and trade accordingly.

Resistance is around $900 and the next leg up will come after this resistance zone gets bought up by the bulls. Lets have a quick look at the price performance against Bitcoin.

 

bchbtc price forecast 18 July 2018

Bitcoin Cash is looking quite strong versus Bitcoin and I would expect some good gains vs the USD and other Fiat markets, should this trend continue.

So far we can see that the price is finding good support around the 20 MA, dips being bought up by the market participants.  Keep an eye on the momentum for the next big price movement, should it occur.