Bitcoin Cash price analysis: BCH/USD short term bullish, long term still hazy
- BCH is headed for some more gains in the short term.
- Long term still have some more paths to cross.
Bitcoin Cash price is on a run in the short term and this momentum is likely to continue, at least for now, before it reaches some resistance zones in the medium to long term which might need special efforts from the bulls to change the long term trend of this crypto.
BCH/USD is up more than a percent in the thin weekend trade, at $1,130 and at middle point of the day where the range has been a mild 3 percent, between $1,113 and $1,147. On the 240-minute chart, the price of BCH has bounced from a support line and now is headed towards $1,170-80 range where it would face another resistance.
Immediate strong support exists around $1,085 in the form of 100 days simple moving average apart from the trendline support at $1,100.
BCH/USD 240-minute chart:
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
