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Bitcoin Cash Price Analysis: BCH/USD Bounces Sharply, Could Retest $600
Bitcoin Cash Price Analysis: BCH/USD Bounces Sharply, Could Retest $600
Bitcoin cash price found a decent support near the $500-510 zone and bounced back against the US Dollar.

There was a break above a key bearish trend line with resistance at $545 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair is gaining momentum and it seems like it could revisit the $600 zone in the near term.
Bitcoin cash price formed a base near $500 against the US Dollar. BCH/USD is showing positive signs for a test of the $580 and $600 levels.
near the $500 and $510 levels against the US Dollar. The BCH/USD pair formed a low at $509 and later it started an upside move. The price traded higher and broke the $520 and $530 resistance levels. There was a break above the 38.2% Fib retracement level of the last decline from the $611 high to $509 low.
Moreover, there was a break above a key bearish trend line with resistance at $545 on the hourly chart of the BCH/USD pair. The pair gained traction and broke the $550 level and the 100 hourly simple moving average. At the moment, the price is trading with a

above the $550 level. An hourly close above the 50% Fib retracement level of the last decline from the $611 high to $509 low is needed for more gains. Above $560-570 Btc Bch Price , the price will most likely accelerate towards the next resistance at $580 and $600.

, BCH price is could continue to move higher if buyers remain in action above $560. If there is a downside reaction, Btc Bch Price
– The MACD for BCH/USD is moving nicely in the bullish zone.
– The RSI for BCH/USD is now well above the 50 level.
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