Bitcoin Cash continues to trade inside the range between $1,150 and $1,355. The longer it trades within this range, stronger will be the breakout. Therefore, we shall look to buy the breakout of the range.
Traders can buy the breakout and close (UTC) above the $1,355 levels with a $1,125 stop loss. Though the pattern target of the breakout of the range is only $1,560, we believe that the BCH/USDpair will rally to $1,600 and after that to $1,800 levels.
Our bullish view will be invalidated if the price breaks down of the range.