Bitcoin cash price mostly consolidated in a range above the $125 support against the US Dollar.
The price is likely to gain bullish momentum above the $135 resistance level.
There is a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
The pair is trading with a positive bias and it could surge above $135 and $138 in the coming sessions.

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Coinspeaker Ripple CEO Explains Why Facebook’s Approach to Libra Is Just “Silicon’s Valley Arrogance”Brad Garlinghouse, Ripple CEO joined Squawk Box on CNBC to share his thoughts on Libra, Facebook‘s controversial digital currency.According to him, the overwhelming publicity that Libra coin has acquired is a good indicator of the brighter future of finance besides widespread condemnation […]

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Bitcoin cash price seems to be positioning for an upside break above $135 against the US Dollar. BCH could gain traction if it breaks the key $135 and $138 hurdles.
Bitcoin Cash Price Analysis
Recently, there were volatile moves in bitcoin, ripple, Ethereum, and bitcoin cash against the US Dollar. Earlier, the BCH/USD pair declined after testing the $135 resistance. It dipped below the $130 support and the 55 simple moving average (4-hours). However, the $125 support area acted as a strong hurdle for buyers and later the price rebounded. It broke the $128 resistance and the 55 simple moving average (4-hours). Besides, there was a break above the 50% Fib retracement level of the last decline from the $135 swing high to $124 swing low.
However, the upside move was capped by the $134-135 resistance area. There is also a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair. The pair recently tested the 76.4% Fib retracement level of the last decline from the $135 swing high to $124 swing low. Since the price is placed nicely above the $130 support and the 55 SMA, there are high chances of an upside break above the $135 resistance.
Above $135, the next resistance is near the $138 level. It represents the previous support and the 1.236 Fib extension level of the last decline from the $135 swing high to $124 swing low. The main resistance is at $140, above which the price could climb towards the $150 level. On the downside, there are many supports near the $130 and $128 levels.

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Looking at the chart, bitcoin cash price is clearly trading in a positive zone above $130. If buyers succeed in gaining strength above $135, the price is likely to accelerate above $138 and $140 in the coming sessions. On the other hand, a daily close below $125 will likely negate the current bullish view.
Technical indicators
4 hours MACD – The MACD for BCH/USD is slowly gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is now well above the 50 level, with a bullish angle.
Key Support Levels – $130 and $128.
Key Resistance Levels – $135 and $138.
The post Bitcoin Cash (BCH) Primed For More Gains Above $135 appeared first on Live Bitcoin News.

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