• Bitcoin cash reversed from support area
• Likely to rise to resistance level 850.00
Bitcoin cash cryptocurrency recently reversed up from the powerful support area located between the round support level 500.00 (which has been steadily reversing the price from the start of March) and the the lower daily Bollinger Band.. The upward reversal from the support level 500.00 continues the active intermediate impulse wave (3) – which started earlier this month from the same support area.
Given the strength of the aforementioned support area and the wider optimism about the cryptocurrency markets – Bitcoin cash cryptocurrency can be expected to rise further toward the next resistance level 850.00 (top of the two consecutive trading sessions from the middle of this month).