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Bitcoin Cash seems to have strong support around the $300 level. The trading range is very narrow and I think depending on the direction of Bitcoin will have a big part of play in the future direction of Bitcoin Cash. For me Bitcoin Cash could go either right now and I have no idea which way it will but I think Bitcoin's price direction will play a big part in Bitcoin Cash's future price direction. 

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Bitcoin Cash is still hovering around the $300 level as Bitcoin has not decided upon its course of direction. It is struggling at times to stay about $300 for any sustained period and I think Bitcoin will need to cross $11k for Bitcoin to cross $350 price level.

There is some strong range bound consolidation taking place but this could be before the price drops further or increases and this is undecided. The only thing that I think increases the odds and probability of the price increasing is the halving event for Bitcoin would could lead to an increase in the price of Bitcoin with 'alt coins' following suit. 

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Bitcoin Cash is up 0.52% at the time of writing this post. It seems to be playing catch up to Litecoin who is this morning's leader. The only significant piece of news was what I posted yesterday. 

Unless the narrative for some of these alt coins strengthens then I do fear for some of them. 

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Bitcoin Cash is up 6% at the time of writing this post and currently trading around the $325 price area.

I think it is going to find some rather tough resistance around the $345 price area as it tries to approach and surpass $350. I am not so sure it will be able to breakthrough unless there is some seriously positive news on not only Bitcoin Cash but the Cryptocurrency asset class in general.

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When I look at the 'daily' on Bitcoin Cash then I do fear another downward move. 

Since its recent high it has seen two sharp moves downwards with consolidation in between the two. I do wonder if that pattern has the potential to repeat itself?

I don't know the answer but this is the risk one faces when trying to trade Bitcoin Cash. 

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