Ladies and Gents
After breaking out of a crucial zone which now has turned into support after retest, Bitcoin Cash will be trying to test the confluence of ATH and ascending trend line's top once again. The green trendlines now act as dynamic supports. We will update this pair in a couple of days to see if ATH breaks.
Have A NICE WEEKEND eveyone.
On the 4H chart, BCH broke up recently the bearish channel before getting rejected at the resistance level in 240 USDT area. Since then, BCH have lost momentum and is now sitting on a very important support at 225-227. if support doesn't hold, we might see retracement to second support level in 215-217.
Important is for the support to hold, otherwise we might see...
In the 4H chart, BCH broke out from a bearish channel that led price movements in the past days. Now it is flirting nicely with first resistance at 235-240. On the fundamental side, BCH mining rewards have been halved in the past months. The recent break-out might prompt a more profound and long term bull-run if accumulation starts at these levels