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The prices of coins keep rising on the first day of the weekend despite the recent sharp growth.
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$BCH/USD
Bitcoin Cash ($BCH) has gained a lot of value, its price has rocketed by more than 30%.
$BCH/USD chart by TradingView" src="https://cnews24.ru/uploads/751/751649fe2b47d34b9d0d0f1c06c2dc20858e725b.png" size="1819x824">
Image by TradingView
On the local chart, the rate of Bitcoin Cash ($BCH) has made a false breakout of the $200 zone. Currently, one should pay attention to the day's closure. If it occurs below the middle of the narrow channel at $190, the decline is likely to continue to the support at $180.5.
$BCH/USD chart by TradingView" src="https://cnews24.ru/uploads/37b/37ba927edf1a7279aad4221449ac7a3b34b7dbb7.png" size="1819x824">
Image by TradingView
On the bigger time frame, the price has also made a false breakout of yesterday's peak at $193.5. The volume has sharply risen, so traders might have started fixing their positions. In this regard, sellers might seize the initiative, which can lead to a drop to the $170-$180 zone within the following weeks.
$BCH/$BTC chart by TradingView" src="https://cnews24.ru/uploads/8f0/8f0dc632d0b33a7ea0635e15d305ef235af99de4.png" size="1819x824">
Image by TradingView
The situation is a bit better for bulls on the daily chart against Bitcoin ($BTC). Buyers are trying to keep the rate above yesterday's peak at 0.0062. If they manage to do that, the upward move may continue to the 0.007 area soon.
$BCH is trading at $190.3 at press time.
coindesk.com
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