On March 17, Bitcoin Cash reached a floor of $514 and a ceiling of $541. Together, the price pivots suggest the formation of an ascending parallel channel. The price of bitcoin cash will continue to rise if bulls are able to break clear and maintain momentum above the middle line of the ascending parallel channel. If they are able to break through the resistance, they could make a run to the upper trend line of the channel, putting BCH/USD near the 0.5 Fibonacci retracement level at $555. When the bulls receive a large number of buy orders, they may be able to target prices above the 0.618 Fib level ($568) and then the $600 resistance level. If prices remain above this level, buyers could seek gains around $630 and then $700.