Bitcoin Cash Price Analysis: BCH/USD spiking aggressively to the upside, up over 13%
- Bitcoin Cash spikes over 16% in the past three hours, to move back into $100 territory.
- Price has moved to its highest level since the 11th December. Now up over 13% on the day.
The Bitcoin Cash price in the late afternoon on Tuesday, has been very much erect. Seen up with gains of 13% now in the session. It has jumped over 16% in the past three hours of trading, moving from $85 to briefly move into the $100 level.
BCH/USD spike higher back to touch the $100 mark again, was the first time since the 11th November. A firm move back above the $100 level, may prove some slight difficulty for the bulls, being a psychological area of resistance.
Should the bulls manage to squeeze back above, the next area of resistance will be eyed around $107 area. This between 8-9th December, proved to see sellers lurking within this territory. Further north, there isn’t too much then in the way of $150, last traded here on 4th December.
BCH/USD 15-minute chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
