The past week has proven to be highly bullish for the controversial Bitcoin hard fork Bitcoin Cash (BCH). This cryptocurrency was able to post a meteoric surge just a few days ago in tandem with the upswing incurred by the altcoin markets, and it appears to be on the cusp of forming another massive leg up.
Analysts are now noting that BCH’s recent uptrend could soon turn parabolic as its technical and fundamental confluence continues to grow increasingly bullish.
Bitcoin Cash Once Again Shows Signs of Bullishness as it Begins Inching Higher
At the time of writing, Bitcoin Cash is trading up nominally at its current price of $267, which marks a notable climb from its daily lows of $262 and only a slight decline from its daily highs of $269.
Earlier this past week, BCH was able to post a massive surge that allowed it to climb from lows of $230 to highs of just over $270. This massive rally came about concurrently with upswings seen by most major altcoins, with the two most prominent Bitcoin hard forks – Bitcoin Cash and Bitcoin SV – both leading the markets.
BCH’s ability to maintain stability around its recent rally’s peak points to underlying strength amongst the crypto’s buyers and may suggest that it will soon see significantly further upside.
Technical analysis seems to further support this notion, as Big Cheds, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that the crypto is currently caught within a bull flag consolidation pattern, signaling that it could be on the verge of another breakout.
“$BCH #BitcoinCash – Daily chart – Bull flag consolidation while testing MA 200,” he explained while pointing to the charts seen below.
$BCH #BitcoinCash – Daily chart – Bull flag consolidation while testing MA 200 pic.twitter.com/Aky8SHLFMX
— Big Cheds (@BigCheds) January 13, 2020
These Other Factors May Suggest BCH’s Rally Will Extend Significantly Further
Bagsy, another popular crypto analyst on Twitter, explained in a recent tweet that he is bullish on Bitcoin Cash due to a plethora of different fundamental and technical reasons, pointing to BCH’s upcoming mining rewards halving – among other factors – as one reason why he’s bullish on it.
“$BCH: To expand my bullish thought process: 1) Halving coming up (May 24th) 2) 4th tap of horizontal resistance 3) Massive bullish divergences on HTF 4) Volume growing. I’m prepared for a pullback into 0.031 with additional bids,” he explained.
$BCH
To expand my bullish thought process:
1) Halving coming up (May 24th)2) 4th tap of horizontal resistance3) Massive bullish divergences on HTF4) Volume growing
I'm prepared for a pullback into 0.031 with additional bids. pic.twitter.com/0v4iDzYvsI
— Bagsy (@imBagsy) January 12, 2020
The convergence of all the aforementioned factors does paint a highly bullish picture for Bitcoin Cash and they all seem to point to the possibility that its recent rally is currently in its early phases.
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MicroStrategy recorded $26 billion in Bitcoin after its price surged to $90.000 last week. The number are surpassing cash owned by big companies including Nike and IBM. Bitcoin, the biggest cryptocurrency in the world, price increasing up to 11% to…
Bitcoin Cash’s Long/Short ratio was 1.20, indicating strong bullish sentiment.
BCH’s trading volume skyrocketed by 218%, indicating heightened participation from traders.
Amid a notable The post Bitcoin Cash could hit the $450 level, key levels reveal appeared first on AMBCrypto.
Bitcoin Cash (BCH) gains mirror Bitcoin’s surge to near $70k. With Bitcoin Cash price rising above $450, are bulls strong enough to eye further gains? Bitcoin Cash (BCH) rose more than 14% in 24 hours to trade above $450, its highest level since mid-June.
Bitcoin Cash's price at the time of writing is attempting to break out of a resistance line that could invalidate the ongoing bearishness.
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ALGT draws in over 15,000 unique holders in the third stage presale valued at $0. 08, with over $3. 8M raised Bitcoin cash approaches 24h low on CoinGecko at $482. 31 PEPE still sailing strong in the market at $0.
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Bitcoin SV and Bitcoin Cash prices were among the top-performing currencies on Monday as a sense of hope returned in the crypto market. BSV jumped by more than 13% to $38. 27 while Bitcoin Cash jumped to $228.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
Bitcoin Cash has strong bullish conviction The post Bitcoin Cash [BCH] bulls drive rally higher aided by this crucial factor appeared first on AMBCrypto.
Bitcoin Cash has formed a symmetrical triangle pattern. The two lines are nearing their confluence levels. The Federal Reserve is the biggest risk in the market. Bitcoin Cash price has held quite well in the past few weeks even as a sense of fear spreads in the market.
As the price of Bitcoin and the general crypto market has rallied, leading to a much-needed increase in price, Bitcoin Cash (BCH) investors are once again on a profitable path. The majority of investors are now in the green following its double-digit surge in the last week.
On-chain data shows both the short-term and long-term Bitcoin Cash holders have entered into profits following the 13% rally. Bitcoin Cash Traders Return To Profits As Whales Ramp Up Activity According to data from the on-chain analytics firm Santiment, Bitcoin Cash traders who bought within the past 30 days, as well as those who did […]
Bitcoin Cash, like other cryptocurrencies, remained in consolidation in July. There are signs of rotation moving from digital currencies to stocks. Bitcoin Cash (BCH) price had a difficult performance in July as the fear and greed index remained neutral at 50.
Key takeaways Bitcoin Cash could experience further pullback after its recent rally. Chancer’s presale surpasses $600k roughly a month after launch. Bitcoin Cash was the best-performing coin amongst the top 100 cryptocurrencies by market cap over the past 30 days.
Bitcoin Cash (BCH) has surged to a new one-year high, and the token is now rallying at more than 100% higher after it was listed on the crypto exchange EDX along with three other tokens. BCH has also benefited from rising social media interest and record-hitting trading volumes.
На этой неделе цена Bitcoin Cash (BCH) взлетела более чем на 100%, достигнув 13-месячного пика в $235. Ключевые ончейн-метрики указывают на возможность продолжения ралли. Во вторник, 20 июня, состоялся официальный запуск EDX Markets.
Bitcoin Cash (BCH) recently experienced a remarkable surge, registering more than 100% increase. As one of the leading digital currencies, Bitcoin Cash has often been compared to its predecessor, Bitcoin (BTC), but it has also carved its own path in the ever-evolving crypto landscape.
Bitcoin Cash (BCH) has surged by 36.5% in the past three-days after EDX, the exchange backed by Fidelity, Schwab and Citadel, listed it alongside bitcoin (BTC), ether (ETH) and litecoin (LTC).
Bitcoin Cash ranks higher in decentralization than Litecoin and Ethereum Classic.
BCH whales have been reaccumulating during the recent crash.
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Wednesday’s relief rally among most cryptocurrencies underlined investors’ confidence was crawling back. Crypto tokens, such as Bitcoin Cash (BCH/USD), had lost key important levels post the collapse of the FTX exchange.
If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. The level was crucial support, with the token forming multiple bottoms.
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The price of Bitcoin Cash (BCH) has sparked a glimpse of hope against Tether (USDT) as it attempts to flip key resistance with eyes set on $200. The price of Bitcoin Cash in recent weeks has been more gloomy as many altcoins rallied and produced gains of double digits while BCH continues to range.
Bitcoin Cash was one of the most successful forks at one point in time. Not to forget, the altcoin was hitting the highs of $1,550 as of last May.
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer.
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
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