BCH halving run seems to be at hand.
Price is about to hit a key resistance.
Possible end of local wave, to dip soon.
$ 721.50 - 729.41 is the major resistance.
$ 575.73 - 583.29 is the first strong support.
$ 634.43 - 636.10 minor support via dual fibs.
We may blast thru, then look for retest entry.
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Hello Everyone,
Despite the recent downward swing, the BCH/USD pair maintains its status as a robust long-term buy, with solid monthly support maintaining its stability.
TradeWithTheTrend3344
Looks like there is at least one more push up in BCH. Tons of confluence at 1050 USD. We had a massive triangle breakout followed by multiple ABCs. Also BCH/BTC looks fantastic. Will meet massive resistance at 1050. If we can get past 1050 and flip the resistance to support we could get out of control - but I wouldn't bet on it. Also take a look at BCHG - will...
On the 4h time frame BchUsd pair has printed a bullish shark pattern that is almost in completion for a trend continuation on the upside.
Stoploss should be slightly below X.
Hello Everyone,
Currently, the resilience of daily support for BCH/USD is noteworthy. Our primary objective is to secure a stable position above the 1D and 1M Pivot Points (PP) to validate potential further upward movement. Failure to achieve this may lead to additional testing of support levels. Presently, BCHUSD represents a buying opportunity within the 1D...
With Bitcoin's fourth mining reward halving just days away, all eyes are on the leading cryptocurrency. However, a recent price slump in Bitcoin Cash (BCH), a derivative of Bitcoin, is sending a potential warning sign to Bitcoin traders.
Understanding the Halving
Bitcoin's mining reward halving is a pre-programmed event that occurs roughly every four years. It...
Resistance at 720ish has already been hit, the sell-off is dying, RSI and Stochastic along with the linear regression channel are pointing towards a continuation upward after a pullback at the 720 resistance. A push above it would give a very healthy run up to just over $800.
Hello Everyone,
Despite prevailing circumstances, BCH/USD still presents a promising buying opportunity, supported by the alignment of key support levels. Despite oversold sentiment in the long term, BCH/USD is anticipated to continue its upward trajectory, indicating resilience despite challenges.
TradeWithTheTrend3344
Previous BCH halvening (04/08/2020) the price was $267
The upcoming halvening the supply will be cut in half again, so price will need to double compared to previous halvening in order for miner's to stay profitable.
Price target of $530ish
The BCH/USD weekly chart displays a pattern resembling a giant double bottom. If this pattern plays out, technical analysis suggests a possible price target exceeding $3200. Due to Bitcoin's historical dominance in the market, some consider Bitcoin Cash a "clone" and speculate that its price movements might echo Bitcoin's to a certain extent. This concept is...
Bitcoin Cash ( CRYPTOCAP:BCH ) experienced an increase of nearly 15% in its price after completing its second halving event on Thursday, which occurred approximately 16 days before Bitcoin's halving. As a result of this event, the miner reward has been reduced from 6.25 to 3.125 $BCH. Despite an initial drop before the event, the asset's price quickly rebounded...
