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BCHUSD.P trade ideas

Bitcoin Cash Surges 40% Ahead of Halving & Jessica Upgrade!In a surprising turn of event, Bitcoin Cash ( CRYPTOCAP:BCH ) soared 40%, driven by anticipation for its halving event and the implementation of an adaptive block size limit algorithm, signaling strong investor confidence and a bullish outlook for the cryptocurrency. Significant Price Rally as Halving Approaches Over the week, Bitcoin Cash ( CRYPTOCAP:BCH ) witnessed an impressive surge, surging over 40% to peak at $451. This rally brought its monthly gain to 88%, far outstripping Bitcoin’s ( CRYPTOCAP:BTC ) growth over the same period. Currently, with a market capitalization of $8.71 billion, CRYPTOCAP:BCH is trading around $444, having briefly touched $451. The anticipation surrounding its upcoming halving event, scheduled for around April 1, 2024, and the expected network upgrade in May, has fueled this rapid price increase. Post-halving, the reward for BCH miners will be halved from 6.25 BCH to 3.125 BCH, a change eagerly awaited by the market. Anticipated Network Upgrades Spark Interest The Bitcoin Cash ( CRYPTOCAP:BCH ) community is particularly excited about the annual May fork, which aims to implement an adaptive block size limit algorithm. This significant upgrade is designed to address an economic vulnerability that led to the BCH/BTC network split in 2017. According to BCH developer Jason Dreyzehner, the algorithm will adjust the block size limit based on network usage, potentially doubling the maximum block size annually at peak growth. This adaptive approach seeks to balance infrastructure costs with network capacity, ensuring Bitcoin Cash can scale effectively to meet demand. Market Reaction and Trading Volume Insights Following this surge, Bitcoin Cash ( CRYPTOCAP:BCH ) now ranks 11th in trading volume among over 10,000 cryptocurrencies. Tether ( CRYPTOCAP:USDT ) is the most traded pair with CRYPTOCAP:BCH , accounting for more than 53% of transactions. Notably, in South Korea, CRYPTOCAP:BCH trades at a premium, averaging $467.75 compared to the global average of $444. This premium highlights the strong demand and positive sentiment towards BCH in specific markets, further emphasizing its global appeal and the widespread anticipation of its forthcoming technical advancements. The Road to the Jessica Upgrade As the community eagerly awaits the CRYPTOCAP:BCH Jessica upgrade, excitement continues to build over the adaptive block size limit algorithm. This innovation is seen as a pivotal moment for Bitcoin Cash ( CRYPTOCAP:BCH ), potentially resolving longstanding debates over network throughput and scalability. The previous Cashtokens upgrade in May 2023, which introduced smart contracts and on-chain tokenization, set the stage for this next phase of development, underscoring the CRYPTOCAP:BCH community’s commitment to continuous improvement and innovation. Conclusion The remarkable 40% surge in Bitcoin Cash’s value highlights the cryptocurrency’s strong market position and the optimistic outlook from investors and developers alike. With the halving event and the adaptive block size limit upgrade on the horizon, CRYPTOCAP:BCH is set for significant changes that could redefine its utility and scalability.
BINANCE:BCHUSD.PLong
by DEXWireNews
Long Bitcoin Cash (BCH) to $310Trading is slower recently with less than usual decent trade setups. But this looks like a good setup. With VRVP supporting current price with high volume and this coinciding with the bottom of a larger up-trending channel entry here is nearly as good as we can expect. Additionally, our daily RSI is in a fair range. We do have some resistance to get through. 237 is a level of resistance along with the 100 day SMA just above that. But if those can be defeated, we're well on our way. Target #1 - 254 Target #2 - 270 Target #3 - 288 Final Target - 311 I plan to take 25 percent off at the first target and raise my SL to break even. Thereafter, every target reached will be another quarter off of my full position and a raised SL to the preceding level. Risk/Reward on this is a healthy 5/1 with my stop out placed at 222. Best, Stew
COINBASE:BCHUSDLong
by stewdamus
BCH Feb 13th long-term updateAnother week and another free sharing from the TTR most recent #cryptocoin pick update: Bitcoin Cash is another quite undervalued token. The breakout level sits at 329.50 followed by a main breakout zone resistance at $400-410 I don’t own much of this coin, only 20, but I see great potential here if 1450 is broken to the upside. A test of the 1400-1450 zone will be a big one as it will set a W multi-year pattern and potentially can breakout hard with an upside target of 3225 and ideally above 4.5k I like the potential here, but I won’t be long if 1450 is not broken to the upside by sometime this year, especially if BTC will be above 90k There is a clear 4-5x potential here, and I’m fine with holding this token till the 1400 zone exit at minimum.
COINBASE:BCHUSDLong
by TheTradersRoom
11
BCH price eyes $350 with this retestRetest Phase of $260 Barrier Breakout: Bitcoin Cash (BCH) is currently in a retest phase following a breakout above the $260 barrier. 12% Jump Challenges $285 Resistance: A significant 12% increase this Sunday challenges the overhead resistance at $285. Potential to Reach $309: Crossing $285 could propel BCH towards the $309 mark. Ascending Triangle Breakout: Signals an ascending triangle breakout, indicating potential for uptrend continuation. Market Momentum Gains: As the market gains momentum, BCH is positioned for a positive trajectory aiming for new 52-week highs. Influence of Bitcoin’s Bull Run: BCH benefits from the momentum generated by Bitcoin's bull run in its halving year. Current Trading Price: BCH is trading at $269.53, experiencing a 2.90% intraday fall which serves as a retest of the bullish breakout. Technical Indicator - MACD: Shows bullish divergence, supporting the breakout rally's continuation. Potential Surge Influenced by Bitcoin Halving: Anticipated to have a positive impact on BCH and other related coins. Altcoin Season and BCH’s Performance: With an upcoming altcoin season, BCH has the potential to outperform Bitcoin and possibly reach or exceed $350. Optimism for BCH to Break $300: The current patterns and market conditions support a strong potential for BCH to surpass the $300 mark soon.
COINBASE:BCHUSD
by Coinpedia-Market-Insight
BCH Price Eyes Triangle Breakout To Cross $300Bullish Revival in Ascending Triangle: Bitcoin Cash (BCH) exhibits a bullish revival within an ascending triangle pattern on the daily chart, indicating potential for upward movement. Reclaiming the 50-Day EMA: BCH's price action has successfully reclaimed the 50-day EMA, suggesting a strengthening bullish momentum. Potential Rise to $260 Barrier: The current uptrend signals a possible rise to the $260 resistance level. Breakout Run Towards $300: A successful breakout above $260 could propel BCH towards the $300 mark. Bitcoin's Influence on BCH: The recent surge in Bitcoin price, driven by miners' reluctance to sell, serves as a bullish catalyst for Bitcoin Cash. Technical Superiority Over Bitcoin: Historically, BCH has shown to outperform Bitcoin in technical charts, highlighting its potential for significant gains. Price Prediction Beyond $500: With increasing expectations for a bull run, BCH price might project beyond $500 in anticipation of market dynamics. Current Trading Price: BCH is currently trading at $247.49, with a recent uptrend marked by a 1.19% intraday jump. Technical Indicators Support Bullish Recovery: The RSI indicates a resurgence in bullish momentum, supporting the ongoing recovery. Impact of Bitcoin Halving on BCH: The upcoming Bitcoin Halving event is expected to positively influence BCH, given their connection. Altcoin Season Potential: The anticipated early arrival of the altcoin season could see BCH and other altcoins outperforming Bitcoin. Risk of Retesting Support Trendline: Despite the bullish signals, there's still a risk that BCH might revert to retest the support trendline if faced with resistance.
COINBASE:BCHUSDLong
by Coinpedia-Market-Insight
BCHUSD is potentially poised for a substantial price upswingBINANCE:BCHUSD BCHUSD (W) BHCUSD may have a strong price increase coming up. Waiting for confirmation of price and volume explosion! Following the preceding abrupt surge in price accompanied by elevated volume, BCH has undergone a correction spanning over 30 weeks, characterized by diminishing volume and price consolidation. The signal from the MA20 line consistently aligns with the evolving price dynamics. Is it plausible to anticipate the occurrence of High Volume, accompanied by a substantial surge in price amplitude within this digital currency? Follow us and read my status to follow more forexsignal !
BINANCE:BCHUSDLong
by VNSmartMoney
2