Bitcoin Cash Continues to Pull Ahead

Bitcoin cash seems to have enjoyed another push to the upside taking it to $1,460 at the time of this writing. It is currently well above the central moving average of the KRI, though has rejected the $1,500 handle for now. We are still well above the psychologically significant $1,300 level, which was the upper bound of a ranging spell for several days. Although we still seem to be in a bear cycle via the Elliott Wave, this renewal of momentum is welcome, though it is perhaps just a corrective phase. If momentum continues, $1,488, is a reasonable target, then the psychologically significant $1,500 barrier. Finally, will test the Fibonacci anchor at $1,764 which still corresponds with the upper bound of the KRI.


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