Bitcoin Cash Rejects Lower Levels

Bitcoin Cash has tested some levels in the lower $1,200 handle. Thankfully, it rejected these and rebounded to $1,275, which appears to be a very strong level. Currently, it corresponds with the central moving average of the KRI. If current prices do not hold, we'll have support from $1,200, as well as Fibonacci levels at $1,144, $965, then the lower bound of the KRI at $1,075. If momentum reignites, we must break through the central moving average of the KRI currently at about $1,275, where BCH is currently hovering. Then we will need to best $1,400, $1,438, $1,500, and $1,522. The upper bound of the KRI will be the next point of resistance at $1,532, then after that, $1,764, the lower anchor of our nested Fibonacci levels, seems to be a reasonable target.

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