Bitcoin Cash: Price Analysis, May 30

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BCH/USD

We believe that Bitcoin Cash is trading in a range whose resistance is at $1,600. The support of the range is still undecided. It can either be $750 or closer to $620.




BCH/USD

Currently, the cryptocurrency is struggling to sustain above the downtrend line. If the bears succeed in breaking below the May 28 lows of $878, a slide to $750 is probable. This should offer some support, but if this also breaks, the next support is at $620.




If the $878 level holds, the BCH/USD pair can remain range bound for a few days. We don’t find any reliable buy setups at the current levels; hence, we are not recommending any trade on it.

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