Bitcoin Cash price analysis: BCH/USD at $670, Twitter closed BCH-promoting account
|- Bitcoin cash recovered from critical support at $600.00.
- BCH community is divided by Twitter's decision.
Bitcoin Cash is up over 11% from Friday's low. The coin touched ultimate support $600.00 before the recovery mood set in. There are no clear BCH-specific triggers that might have caused the upside, but there are some reasons for extended sell-off once the correction is over.
Twitter blocked BCH-promoting @Bitcoin account on Friday, April 8, possibly due to a large number of complaints. This event triggered a heated discussion both on Twitter and on Reddit threads. While Bitcoin supporters rejoice, BCH proponents are infuriated.
"The @Bitcoin account has been suspended (again) by @TwitterSupport only because Core trolls constantly submit fake reports about it. @Jack why do you guys keep letting this happen? Instead of suspending all the fake scammer accounts you suspend the real ones," - David Shares, researcher and writer at Bitcoin.com said in his Twitter post.
The case was escalated to Jack Dorsey with the request to restore the account and allow scaling debates.
Bitcoin Cash technical picture
BCH/USD is hovering around $671, capped by 200-EMA (hourly chart) if the price manages to break higher, the upside may be extended towards $700 and $715. On the downside, the local support comes at $650, it is produced by both 50 and 100-EMA (hourly interval). Once this area is cleared, the price will target $620 level.
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