RATE Group | Bitcoin Cash Price Weekly Analysis: BCH/USD Primed for More Upsides
46276
post-template-default,single,single-post,postid-46276,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
 

Bitcoin Cash Price Weekly Analysis: BCH/USD Primed for More Upsides

21 Oct Bitcoin Cash Price Weekly Analysis: BCH/USD Primed for More Upsides

Posted at 06:55h in Bitcoin News by

[ad_1]

Key Points

  • Bitcoin cash price declined sharply, but it found support near the $420 level against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $435 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair may well continue to move higher once there is a break above the $450 resistance.

Bitcoin cash price is placed well above the $420 support against the US Dollar. BCH/USD could accelerate above the $450 and $460 resistances in the near term.

Bitcoin Cash Price Analysis

This past week, there were losses noted below the $450 support level in bitcoin cash price against the US Dollar. The BCH/USD pair declined and even broke the $440 support. It traded close to the $420 support area where buyers emerged. There was a strong buying interest near the $420 level and later the price started a decent recovery. It moved above the 50% Fib retracement level of the recent slide from the $458 high to $423 low.

More importantly, there was a break…

[ad_2]

Source link

Tags:
, , , , , , ,