RATE Group | Bitcoin Cash Price Analysis: BCH/USD Is Back In Bullish Zone Above $540
40322
wp-singular,post-template-default,single,single-post,postid-40322,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,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
 

Bitcoin Cash Price Analysis: BCH/USD Is Back In Bullish Zone Above $540

28 Aug Bitcoin Cash Price Analysis: BCH/USD Is Back In Bullish Zone Above $540

Posted at 08:19h in Bitcoin News by

[ad_1]

Key Points

  • Bitcoin cash price traded higher and broke two important resistances at $530 and $540 against the US Dollar.
  • Yesterday’s highlighted key bearish trend line was breached with resistance at $527 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair traded as high as $555 and it is currently correcting lower towards the $540 support.

Bitcoin cash price is gaining momentum above $540 against the US Dollar. BCH/USD may correct lower, but dips remain supported near $540 and $530.

Bitcoin Cash Price Supports

Yesterday, we discussed a possible break and decision time for bitcoin cash price above $510 against the US Dollar. The BCH/USD pair gained traction, made a nice upside move above the $530 resistance, and climbed into a positive zone. There was also a close above the $530 level and the 100 hourly simple moving average. Additionally, there was a break above the last swing high at $545.

More importantly, yesterday’s highlighted key bearish trend line was…

[ad_2]

Source link

Tags:
, , , , , , ,