The breakout of a bullish flag gets a shot at $ 170

• Bitcoin Cash is the bull among the bears.
• It is likely that Bitcoin Cash slides back below $ 170.

Bitcoin Cash is among the few coins hanging in the green following a breakout from a bullish flag pattern that was formed after the price was refused by trading above $ 200. Buyers of Bitcoin Cash have tried to keep the token at higher levels, including tracing the line in the sand for $ 140.

In addition to Bitcoin Cash and IOTA (MIOTA), all other assets in the top twenty are in red. Bitcoin has recovered over $ 3,900 but slipped back into the $ 3,800 range. The etereum behaved relatively well yesterday. The Ripple XRP, on the other hand, is not able to correct above $ 0.4. However, the market is relatively stable; added $ 1 billion in the last 24 hours to stand at 4133 billion.

The bullish move that occurred after the bullish flag pattern was corrected above the 50 SMA and 100 SMA in a 2-hour time chart. BCH / USD continued with the correct upside by overcoming the resistance to $ 160. The resource attacked the next resistance at $ 170, although the bulls lack momentum for not only turning back but also supporting the price above this level. Therefore, according to the technical indicators, Bitcoin Cash is likely to slip back below $ 170. At the same time, the buying activity is still high and the side trading will take effect from now on in the next sessions of the day.

Chart BCH / USD 12 & # 39;