Bitcoin Cash edges higher as expected. It's located at 241.25, right below today's high of 243.66. You knew from my previous analyses that the altcoin seems determined to extend its growth after escaping from important bullish patterns.
BCH/USD increased by 20.66% from Monday's low of 201.94 to 243.66 today. The altcoin is up by 7.20% in the last 24 hours and by 16.27% in the last 7 days.
BCH/USD Rally!
Technically, you knew that BTC/USD could jump higher after escaping from the minor flag pattern.
Now, it has taken out the 228.46 static resistance as well and it challenges the 38.2% (238.54) retracement level.
BCH/USD Outlook!
A bullish closure above the 38.2% (238.54) confirms more gains and is seen as a long opportunity.
