Bitcoin Cash (BCH) price signals strong upside over $550 level

2021-3-12 14:47

Bitcoin Cash price is looking to strengthen above $550 as bulls target a breakout towards $640

Bitcoin Cash (BCH) price has been consolidating within an ascending triangle pattern, signaling further gains.

If this happens, Bitcoin Cash could see a significant upside move above $550. Buyers might then aim at the main resistance at $640 before attempting to breach the next barrier at $750. This could leave bulls faced at prices last seen in July 2018.

The likely upside for Bitcoin Cash coincides with a similar bounce for Bitcoin, which is trading around $55,420 after it hit resistance near $57.3k. The BCH/USD pair is changing hands around $538, about 1.2% up on the day.

Bitcoin Cash price analysis

A slight sell-off has pushed BCH lower, with bulls retreating to support near $530. While the setback could derail bulls’ plans for a short-term rally, the upside could resume if BCH/USD recovers above $550 and re-energised bulls establish control above the resistance line of the ascending triangle.

BCH/USD daily chart. Source: TradingView

As the daily chart shows, buyers need to retake control after showing indecisiveness during the previous session. This allows bears to move in and cap the upside near the apex barrier of the ascending triangle.

If buyers hold onto gains above the 20-day EMA ($535), increased buying pressure could push Bitcoin Cash’s price past immediate resistance (breakout point) at $565. This will allow for a retest of the $600 level, with the initial target in the projected uptrend being $640.

A successful breach of this line would bring $680 into focus, with the next target marked as $750. Note that the latter move depends on whether the volatility would carry enough momentum to climb to this second target.

On the flip side, a reversal could strengthen if bears succeed in keeping BCH price below the 20-day EMA. The prospect of BCH seeing minor losses is suggested by the weak MACD and RSI below the midpoint.

Dipping below the rising trend line would see prices fall to lows of $500, before a bout of panic selling sets in to send prices near the horizontal support line near $460.

The post Bitcoin Cash (BCH) price signals strong upside over $550 level appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95908.41 (-0.99%)
Объем 24H $98.381b
Изменеия 24h: 1.13 %, 7d: 7.75 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1897.592b Rank 1
Цена в час новости $ 57038.25 (68.15%)

bitcoin price 550 cash level bch upside

bitcoin price → Результатов: 126


Фото:

Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 […] The post Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder appeared first on CoinJournal.

2024-11-13 17:39


Here’s What To Expect From The Bitcoin Price In November After Breaking Above $70,000

The Bitcoin price is back above $70,000 for the first time in four months, with the ‘Uptober’ rally eventually happening as the month ends. This looks to be the start of significant price rallies for the flagship crypto as the market heads into November, which is also historically bullish. What To Expect From The Bitcoin […]

2024-10-30 19:30


Фото:

Bitcoin’s bullish momentum seeking ‘euphoric’ market shift – Glassnode

Bitcoin (BTC) is showing the first signs of positive price momentum since June, as it attempts to convincingly break the $69,000 price zone and shift to a “euphoric bull market.” According to Glassnode’s latest “Week Onchain Newsletter,” the recent rally has seen Bitcoin’s spot price break through key technical and on-chain price levels, pushing many […] The post Bitcoin’s bullish momentum seeking ‘euphoric’ market shift – Glassnode appeared first on CryptoSlate.

2024-10-24 00:38


Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path

A crypto analyst has projected a significant break to the upside for Bitcoin, drawing parallels to similar breakouts in traditional assets in the tune of the Gold and the S&P500. According to a technical analysis of the current price action, Bitcoin is playing out a cup and handle pattern, which could send it surging to bullish price targets above $230,000.

2024-10-22 22:30


Bitcoin Price To $95,000? Here’s What Needs To Happen First

The Bitcoin price has now broken above the $68,000 mark amid a run of a 12% price increase in the past seven days. However, analysis says the Bitcoin price will not stop this surge anytime soon. According to a detailed analysis posted on TradingView, a well-known crypto analyst has shared insights suggesting that Bitcoin is on track to climb even higher to reach an ambitious target of $95,000, but USDT.

2024-10-18 13:00


Bitcoin Poised For Minimum 60% Rally As 3 Critical Signs Align

Henrik Zeberg, a macroeconomist known for his expertise in business cycles, has pinpointed an upcoming rally of at least 60% for the Bitcoin price in his latest technical analysis. The seasoned analyst has identified a pattern across three critical technical indicators that have historically signaled major upward price movements when all aligned.

2024-10-18 11:30