Bitcoin Cash nears breakout at $260-mark - AMBCrypto
After breaching the psychological level, Bitcoin Cash was being traded at $253, at press time. The bulls have previously struggled to break above the $260 mark. But there could be trend reversal here as signs of a bullish breakout in the short-term strengthened.
Bitcoin Cash has followed a steady upward trend. However, the latest pullback propelled BCH candles to oscillate between a descending parallel channel. Completion of this pattern formation could potentially lead to a bullish breakout. A breakout to the positive side was supported by daily moving averages. 50 DMA [Pink] and 100 DMA [Blue] suffered a bearish crossover on 31st March. More recently, it was observed that the gauge between the two DMAs had been decreasing.
