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BCH/USD is moving sideways in the short term signaling that it tries to accumulate more bullish energy before extending its growth. It's located at 134.56 and it seems determined to approach and reach new highs.
In the last 24 hours, Bitcoin Cash is up by 2.11% and only by 1.72% in the last 7 days. You already know from my analysis that Bitcoin is still bullish in the short term, further growth should help BCH/USD to approach and reach new highs.
Technically, the rate tested and retested the 126.02 and 127.46 downside obstacles. It has resumed its growth after escaping from the triangle pattern.
Now, it has developed a range pattern that could represent an upside continuation formation. The 139.00 historical and psychological level stands as static resistance.
A valid breakout above 139.00 should announce more gains ahead and brings new buying opportunities.
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