RATE Group | Bulls ready to give BCH/USD a push above the 61.8% Fib level
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Bulls ready to give BCH/USD a push above the 61.8% Fib level

30 Jul Bulls ready to give BCH/USD a push above the 61.8% Fib level

Posted at 09:48h in Bitcoin News by

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  • Bitcoin Cash leads the recovery ahead of Bitcoin and Monero.
  • BCH/USD forming a higher low pattern from July 24 lows.

Bitcoin Cash is the generally bearish market a nice shed of green today. Besides, BCH the other cryptos subtly in the green are Bitcoin and Monero. With a relative change of +2.57, the price is up 0.87% on Tuesday. It opened the session at $305.31, surged to $309.23 before correcting lower to the current market value at $307.

Looking at the hourly chart, a higher low pattern has been forming since the lows touched on July 24. The price soared to highs above $325 on July 27. A high formed at $326.28 (Fib level swing high), in turn, giving the bears the power to revenge.

Credible support has established at the 38.2% Fib retracement level taken between the last drop from $326.28 to a low of $281.9 around $300. However, this week saw Bitcoin Cash slide to lows below $290 before revamping the uptrend.

Meanwhile, a tremendous recovery propelled BCH…

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