#BitcoinCash Is Bullish, More Upsides Expected Above March Highs
Past Performance of Bitcoin Cash
BCH prices remain wavy inside a bull flag from the range defined from December to April 2022. For now, traders can look to ride the uptrend from a top-down preview. However, this will largely depend on the reaction of prices at around 136 , marking March and April highs. On the lower end, support is at around $130.
#BitcoinCash Technical Analysis
The recovery of prices from mid-March shapes the current price action. There is a double top though the trend is negative slanting. Resistance is around the 136 zone, while support flashes with the high of April 3. The bar is bullish, engulfing, and wide-ranging, which initiated the recent breakout and drive to spot rates. Therefore, unless there is a comprehensive push above 136 and the resistance trend line, the odds of contraction below 130 towards 120 remains high. If bulls take charge, BCH may float to Q1 2023 high of $145.
What to Expect From #BCH?
BCH remains volatile and moving inside a tight trade range, as seen in the past two days. Still, bulls have the upper hand. Buyers from mid-March 2023 could spill over, providing the impetus for a leg up toward 145 in a refreshing bull trend continuation.
Resistance level to watch out for: 136
Support level to watch out for: 130
Disclaimer: Opinions expressed are not investment advice. Do your research.
BCH prices remain wavy inside a bull flag from the range defined from December to April 2022. For now, traders can look to ride the uptrend from a top-down preview. However, this will largely depend on the reaction of prices at around 136 , marking March and April highs. On the lower end, support is at around $130.
#BitcoinCash Technical Analysis
The recovery of prices from mid-March shapes the current price action. There is a double top though the trend is negative slanting. Resistance is around the 136 zone, while support flashes with the high of April 3. The bar is bullish, engulfing, and wide-ranging, which initiated the recent breakout and drive to spot rates. Therefore, unless there is a comprehensive push above 136 and the resistance trend line, the odds of contraction below 130 towards 120 remains high. If bulls take charge, BCH may float to Q1 2023 high of $145.
What to Expect From #BCH?
BCH remains volatile and moving inside a tight trade range, as seen in the past two days. Still, bulls have the upper hand. Buyers from mid-March 2023 could spill over, providing the impetus for a leg up toward 145 in a refreshing bull trend continuation.
Resistance level to watch out for: 136
Support level to watch out for: 130
Disclaimer: Opinions expressed are not investment advice. Do your research.