Bitcoin Cash (BCH) soared to our first target objective of $440 on Feb. 5. The bears are currently defending this level but if the bulls can push the price and sustain above it, a move to $500 is possible.
Though the bulls are in command, the RSI has risen into overbought territory, which suggests a minor consolidation or correction for a few days.
Any dip from the current levels is likely to find support at the 20-day EMA at $374. If the price bounces off this support, the bulls will again attempt to resume the up move. A break below $360 will turn the trend in favor of the bears.
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