Bitcoin Cash price analysis and forecast (Thursday, August 16th): Positive signals for Bitcoin Cash price

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If the Bitcoin Cash price can cross above the key level of $530, the target price is likely to be $590

A close scrutiny upon chart H4 shows that the recent bottom is lower than the prior bottom, resulting in the possible formation of head and shoulder pattern. If the Bitcoin Cash price can cross above and tick up from the key level of $530, we should pay a close attention to the resistance level of $590 so as to know whether the cryptocurrency price can rise further or not. If it fails to cross above the level of $590, it is possible for the Bitcoin Cash price to follow the head and shoulder pattern as we have drawn in chart H4.

Bitcoin price, Bitcoin Cash price, Bitcoin price analysis, Bitcoin Cash price analysis, Bitcoin price forecast, Bitcoin Cash price analysis, USD, cryptocurrency, major cryptocurrencies, top 10 cryptocBCHUSD H4 16082018

According to chart D1, there is a chance that the Elliott Flat Wave pattern has been established and the Bitcoin Cash price will soon put an end to the second Elliott Flat Wave marked (B). Thus, the cryptocurrency price will start the final Elliott Flat Wave marked (C) in the short term. Therefore, there is a good chance for the above-mentioned head and shoulder pattern to be constructed.

Bitcoin price, Bitcoin Cash price, Bitcoin price analysis, Bitcoin Cash price analysis, Bitcoin price forecast, Bitcoin Cash price analysis, USD, cryptocurrency, major cryptocurrencies, top 10 cryptocBCHUSD D1 16082018

Written by nami.today

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