Bitcoin cash price analysis: starting to breakout

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Avatar for Madanpanta
4 years ago

Bitcoin Cash is starting to break out across various time frames, as the popular cryptocurrency firms above the $300.00 level.

Bitcoin Cash price analysis shows that medium-term bulls may be targeting a rally towards the $480.00

Bitcoin cash medium-term price trend

Bitcoin Cash is starting to trade towards the current monthly high, with the price action surrounding the cryptocurrency appearing increasingly bullish.

Bitcoin Cash technical analysis shows that bulls could be preparing to test the technically important $360.00 area.

The daily time frame shows that the BCH/USD pair is trading inside a rising price channel between the $360.00 and $240.00 level.

A breakout above the rising price channel could provoke  a technical breakout towards the $480.00 level.

Failure to rally above the $360.00 level could cause the BCH/USD pair to fall back towards the bottom of the rising channel, around the $240.00 level. 

Traders should also consider that the near-term profit from BTC/USD, after the cryptocurrency recently hit $12,400, could harm the BCH/USD pair.

Bitcoin cash short-term price trend

Bitcoin Cash technical analysis shows that the cryptocurrency only has a bullish short-term bias while the price trades above $320.00.

The four-hour time frame shows that a breakout from a symmetrical triangle pattern has taken place. 

According to the size of the range breakout, Bitcoin Cash could rally towards the $350.00 to $360.00 area over the short term.

Any technical pullbacks towards the $320.00 levels from current levels are likely to be seen as a buying opportunity for further short-term upside.

Bitcoin cash technical summary

Bitcoin Cash technical analysis shows that bulls could be targeting towards the top of a rising price channel, around the $360.00 level

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Avatar for Madanpanta
4 years ago

Comments

wow... very good.. i appritiate you...

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4 years ago

yeah thank you man ...subscribe for more

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4 years ago

Great job dear👈👈❤❤ plz subscribe me

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4 years ago

yeah thanx man ...subscribe for more ❤❤😊

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4 years ago

Bitcoin... Such a interesting currency

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4 years ago

yeah i also love bitcoin ..its awesome to trade and bitcoin cash is much more awesome ❤ subscribe for more

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4 years ago

Bitcoin is the easiest currency 😊

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4 years ago

I hope BCH will rise to $360 above, it's getting low again now.

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4 years ago

Yeah definitely subscribe for more

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4 years ago

Yeah, already done.

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4 years ago

Nice info...

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4 years ago

thanx

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4 years ago

Thanks for sharing your thoughts. It's really very helpful to know about BCH .

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4 years ago

You welcome

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4 years ago