@Alther 12 August 2025 more from that month

Bitcoin Cash (BCH) Breaks Out of Long-Term Triangle Pattern, Signaling Strong Bullish Momentum The crypto industry is suddenly gaining momentum after Bitcoin Cash (BCH) attracted traders with a meteoric movement. BCH has officially broken out of a long-term triangle formation, widely viewed as a preliminary signal for the potential beginning of a substantial trend characterized by exceedingly erratic price movements. **History Behind the BCH Movement** For the last few months, BCH has been forming a symmetrical triangle pattern on the daily chart and in a narrowing range. This pattern forms when there is persistent buying and selling pressure between two data points; and it continues to squeeze the price toward that point where the trendlines meet (the apex). As a trend continuation, a breakout is generally associated with an aggressive price movement in one direction.

The week finally saw BCH breaking through the upper trendline of the triangle formation, with strong volume confirming that the breakout was strong. **Details and Key Levels of Breakout** Breakout level: Just under US$590. Current important level: BCH broke through US$607 which now acts as new support. Next resistance: US$650, after which the asset could move towards US$800 or even US$1,500 in the medium term. **Technical Analysis** 1. Trading Volume Volume unexpectedly increased during breakout, making it possible to testify that buyers support the move. 2. Momentum indicator The daily RSI moves into bullish territory (>60) without yet crossing the level of overbought. The MACD generates a bullish crossover signal sustaining a high probability for further price movements upwards. 3. Potential Targets Conservative target stands at around US$900-1,000, using as basis the estimated height of this triangle pattern (~US$300) from the breakout point; on evidence of supporting macro crypto trends, the target would then become even more optimistic reaching upwards of US$1,500. **Factors Supporting the BCH Rally** Positive Sentiment in the Crypto Market: Bitcoin (BTC) is tending toward stabilization, allowing altcoins to shine. Increased Activity in the BCH Ecosystem: The adoption of BCH for payment continues to gain momentum amid several developing economies. Speculation on Cycles for Bullishness: The trader community is expecting a powerful bullish wave; such waves usually come after prolonged consolidation phases. BCH has recently broken out of a long-term triangle formation; therefore, this is a technical signal worth watching. Should the momentum actually sustain, then BCH can really enter an important bullish phase. However, traders should be alert to the key support level at around US$590-607, which they may consider as a shelf or defensive area in case of a pullback.