RATE Group | Bitcoin Cash Price Weekly Analysis: BCH/USD Bullish Above $820
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Bitcoin Cash Price Weekly Analysis: BCH/USD Bullish Above $820

22 Jul Bitcoin Cash Price Weekly Analysis: BCH/USD Bullish Above $820

Posted at 07:13h in Bitcoin News by

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Key Points

  • Bitcoin cash price corrected lower and tested the $740 support area against the US Dollar.
  • There is a major bullish trend line in place with support at $750 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair must break the $800 and $820 resistance levels to gain bullish momentum in the near term.

Bitcoin cash price is placed in a bullish zone above $740 against the US Dollar. BCH/USD must settle above $820 to accelerate gains towards $880 and $900.

Bitcoin Cash Price Support

This past week, there was a decent upside move above the $850 level in bitcoin cash price against the US Dollar. The BCH/USD pair traded towards the $900 level and a high was formed near $890. Later, the price corrected sharply lower and traded below the $850 support. There was even a break below the $800 level. However, losses were protected by an important support at $740 and the 100 simple moving average (4-hours).

More importantly, a major bullish trend line prevented slides with…

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