Bitcoin Cash Buy the Dips after an Initial Failure at $340 High

[MRM]

Today, BCH is approaching the high of $330 after its rebound above $290 support. In the August 2nd uptrend, the coin reached a high of $340 but was repelled.

The breakdown was enormous as the price fell to $245 low. The current move is to retest the $340 resistance. The price is already close to the resistance zone.

Expectantly, the market will rally to $400 high if the resistance at $340 is breached. In other words, the price will have accelerated movement on the upside. Conversely, if buyers fail to overcome the current resistance, sellers may attempt to break below $280 support. Suddenly, the market will fall to $240 or $260 low if the current support cracks.
Source: https://coinidol.com/bitcoin-cash-failure/