Bitcoin Cash Prediction: A Break of $360 Creates Bullish Potential

The recent price recovery in the cryptocurrency market should have served up bullish Bitcoin cash price predictions. However, this appears not to be the case as the BCH/USDT pair did very little in recording price gains in how Bitcoin, Solana, Loopring, and several other cryptos correlate positively with Bitcoin were able to do on Tuesday.

Bitcoin Cash recorded an 11.5% gain on Monday but subsequently lost some of those gains after dipping 3.04% on Tuesday. As a result, it has opened the trading session of Wednesday on a negative note, trailing 0.64%. The BTC/USDT pair is currently amidst an evolving double bottom, with a potential neckline at 359.9.

Any recovery on the pair requires an advance beyond this point, which sets up a likely measured move to 444.3. We see a new influx of Bitcoin cash price predictions with an upside bias only when this occurs.

Bitcoin Cash Price Prediction

A slight pullback has followed the break of the 325.2 support as the price activity attempts to make a return to the downside. The expectation is for the role reversal of the 325.2 price level to provide the support that resists this return move. This could serve as a springboard for a bounce towards 383.2 initially. This bounce should take out the neckline at 359.9, completing the double bottom. Once this has been achieved, 444.3 and 535.9 become potential destinations for the bulls. The former would serve as the initial completion point of the measured move.

On the flip side, a breakdown of 325.2 allows for another dip towards 278.5. Below this mark, 254.3 and 206.0 (3/22 September 2020 lows) form additional targets to the south that become viable if the price deterioration continues.

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