FX.co ★ Bitcoin Cash confirms its breakout

The Bitcoin Cash retreated a little in the short term and now is located at 217.20 at the time of writing. After the last rally, a retreat was natural. The altocin could try to test and retest the near-term downside obstacles before jumping higher.

BCH/USD increased by 4.4% from yesterday's low of 211.42 to 220.73 today's high. In the last 7 days, the altcoin is up by 14.34%.

BCH/USD Retest The Buyers!

BCH/USD registered an aggressive breakout above the downtrend line and through the 50% (210.38) announced an upside reversal.

After the last rally, the rate came back to retest the broken resistance levels. Technically, a minor consolidation above the broken levels could bring a new bullish momentum.

BCH/USD Forecast!

The breakout above the downtrend line followed by the current retreat is seen as a buying opportunity. A new higher high activates a larger growth.