Bitcoin Cash has failed to break out of the downtrend line for the past three days. This increases the probability of a break below the 20-day EMA, which is currently acting as a strong support.

There is a minor support at $745, below which the BCH/USD pair can slide to $670. On the upside, the $838.9139 - $934.2316 area will continue to act as a stiff resistance zone.

We propose holding the existing long position with the stops below $650. We shall close the position or trail the stops higher after a couple of days.

Source:cointelegraph

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