RATE Group | Bitcoin Cash Analysis: Can The Bulls Overcome $500?
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Bitcoin Cash Analysis: Can The Bulls Overcome $500?

14 Feb Bitcoin Cash Analysis: Can The Bulls Overcome $500?

Posted at 09:01h in Bitcoin News by

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  • Bitcoin cash price rallied above the $440 and $450 resistance levels against the US Dollar.
  • The price traded as high as $487 and it is currently consolidating gains.
  • There is a key rising channel forming with support near $460 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).
  • The pair could continue to rise above $485 and $490 in the coming sessions.

Bitcoin cash price is trading in a strong uptrend above the $450 level against the US Dollar. BCH/USD must stay above $450 to continue higher towards $500 or $520.

Bitcoin Cash Price Analysis

This week, bitcoin cash price remained in a strong uptrend above the $400 pivot level against the US Dollar. BCH price rallied above the $440 and $450 resistance levels to move further into a positive zone.

Besides, there was a close above the $450 level and the 55 simple moving average (4-hours). Finally, the price climbed above the $480 level and traded to a new 2020 high at $487.

Recently, it started consolidating gains and corrected…

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