Bitcoin Cash continues to slide towards its June 29 low of $657.8. If this support breaks down, the next stop is at $619.7510. We anticipate the digital currency to find a bottom between these two levels.
The 20-day EMA is the first resistance on the upside, above which the BCH/USD pair can rally to $838.9139. On a close above the downtrend line, we expect strong buying to push price towards the $1,200 mark.
The coin has a history of vertical rallies. Hence, we shall suggest a long position as soon as we spot a buy setup.