Course Bitcoin Cash significantly increased, breaking the resistance at $440.
On the four-hour chart has formed a bullish trend with support level at $480 (according to the exchange Kraken).
The price of coins continues to grow towards the next key barrier at $500.
The Bitcoin Cash will rise as long as the value of the asset exceeds $480, as this area increases, the purchasing activity of traders.
Bullish trend is gaining momentum.
This week's BCH started to go up from the support zone at around $415. During the upward movement of the buyers has broken through several key resistance barriers: $430, $440 and $460. The price of coins skyrocketed to $511, and then corrected to $477.
During the last increase of value of cryptocurrency from $428 to $511 coin was trading above 23.6% Fibonacci level, however, the barrier support at around $470 stopped further decline in value. The graph formed two powerful areas of support: at the level of $480 and $460, so even in the case of trend reversal on bearish price koina falls below $460.
The chart data indicate a continued upward trend until the next barrier of resistance in the area of$500. If buyers retain control over the market, bullish trend will gain momentum and BCH will rise to $520.
The MACD in 4 hours – in the zone of the bullish trend.
The RSI 4 hours – above 50.
Basicallylevel of support - $480.
Major resistance is $500.
The Bitcoin Cash for the week prepared in accordance with technical indicators and current situation on the market!