Bitcoin Cash (BCH) has made modest gains this week, trading at $388, showing signs of a major surge on the horizon.

Based on technical structure and fundamental analysis, Bitcoin Cash may be heading for a significant rally, with the price expected to rise to $515. Looking at the four-hour chart, Bitcoin Cash is showing signs of a technical breakout. However, traders need to consider multiple factors such as market sentiment, institutional demand, inflation, geopolitical factors and selling pressure from Mt. Gox creditors to judge weekly performance.

On a longer time frame, the BCH price prediction shows a positive outlook, with a possible move above $1,000. In the short term, Bitcoin Cash is expected to break above the $400 and $500 resistance levels.

According to the data, Bitcoin price is sitting above the short-term support at $67,000. Last week, Bitcoin rebounded from the $64,000 support level. If Bitcoin price manages to break above the $70,000 resistance level, it will significantly increase new price discovery opportunities. Bitcoin Cash is expected to mimic Bitcoin’s performance, with the price expected to rise to $1,000.

On the four-hour chart, Bitcoin Cash may be forming an inverted head and shoulders pattern (H&S), which is a bullish reversal pattern within a downtrend. The inverted H&S pattern has three lows, with the middle "head" below the two shallower "shoulders" and the neckline connecting the shoulders. Traders need to wait for price to break through the neckline, signaling a possible trend reversal of up to 28% for Bitcoin Cash. After breaking through the neckline, traders can consider buying and place a stop loss slightly below the neckline.

Bitcoin Cash Price Prediction Reveals An Imminent Inverse H&S Breakout To $515 Will Rely On Various Technical Indicators. The golden cross (20-day EMA and 50-day EMA) formed on the four-hour chart needs to hold to maintain traders’ interest in the bulls. It is important to note that a break below the $383 support may increase selling pressure.

Bitcoin Cash price predictions show that the market is about to undergo a major move.

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