The traders are buying Bitcoin Cash close to the $1,200 mark. We currently don’t own any position in the cryptocurrency, as we have booked complete profits on all our position..
The BCH/USD pair will try to break out of $1,600 levels once again. If successful, the up move should extend to $1,800 and $2,000 levels.
If the bulls fail to scale above the overhead resistance, the cryptocurrency can become range bound between $1,200 and $1,600 for a few days.
We shall wait for a reliable buy setup to form before recommending any trade..
source:cointelegraph