RATE Group | BCH/USD impressive triangle breakout targets $235
64477
post-template-default,single,single-post,postid-64477,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

BCH/USD impressive triangle breakout targets $235

07 Oct BCH/USD impressive triangle breakout targets $235

Posted at 09:17h in Bitcoin News by

[ad_1]

  • Bitcoin Cash break out of the symmetrical triangle pattern improves the technical picture as bulls set eyes on $235.
  • Offering support is both the 50 SMA and the 100 SMA.

Bitcoin Cash is reacting positively on Monday following a mundane trading session over the weekend. The 2% gains on the day follow a remarkable breakout from a symmetrical triangle pattern that has been forming since Tues last week.

At the time of the press, Bitcoin Cash is trading at $227.40. The breakout has legs founded within the support offered by the simple moving averages. The 50 SMA on the hourly chart currently stands at $221.39 while the 100 SMA is currently at $221.82.

This breakout coupled with the positive technical propel Bitcoin above $230 towards the supply zone at $235. The full stochastic oscillator is entering the overbought as an indication for increasing bullish strength. At the same time, the moving average convergence divergence (MACD) is back in the positive region….

[ad_2]

Source link

Tags:
, , , , ,