What Bitcoin Cash (BCH) Charts Tell Us
Bitcoin Cash consolidated at $548 for a while after posting a serious increase since the beginning of October. Breaking the $554 resistance today, BCH rallied as high as $574.
It can be said that the next resistance point for BCH, which the crypto community is paying close attention to, is $598.
If the buying pressure builds, there is another resistance at $694.
As I just said, buying pressure has increased significantly since we entered October. We see that I have dropped from the overbought zone of the Relative Strength Index to 60.
Also, the Bollinger Bands indicate that there may be excessive price volatility. However, if the price drops below $548 despite the buying pressure, BCH risks falling to $503 and then to $476.
It is not investment advice.