Manoj B Rawal
Independent Analyst
- BCH breaks out on the short and long term charts.
- Has enough room to runaway.
Bitcoin Cash, the separated cousin of the largest cryptoucrrency Bitcoin, has broken out of certain critical resistances on the short term as welll as long term charts, which can easily take prices higher by 20-30 percent in the next few weeks.
BCH/USD is up more than 5 percent on day at $650.866 and not far off from day's high of $660. On the 120-minute chart, BCH broke out of a horizontal trendline resistance on Saturday and now doesn't have any strong resistance before $700.
On the daily chart too, bulls were able to take off descending trendline barrier that didn't allow it to cross past it since June this year and now should be able to target $700 and $880 in the next few weeks.
BCH/USD 120-minute chart:
BCH/USD daily chart:
Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 3 meme coins Dogecoin, Shiba Inu, Bonk: DOGE accumulation, SHIB update, BONK listing fuel gains
Most meme coins ranked in the top 10 by market capitalization, including Dogecoin (DOGE), Shiba Inu (SHIB), Bonk (BONK), have extended their gains from the past 7 days in the past 24 hours.
Is the crypto bull run back? Premium
Bitcoin’s ascent to $65,000 seems to have breathed hope into the choppy crypto markets. Some altcoins have shot up 10% to 20% due to BTC’s comeback. Investors wonder if this is the resumption of the crypto bull run.
AI tokens see explosive gains as Vitalik Buterin says GPT 4 passed the Turing test
Vitalik Buterin commented on whether OpenAI’s GPT 4 passed the Turing test, in an update on Farcaster. Buterin believes GPT 4 has passed the test, meaning it exhibits intelligent behaviour equivalent to or indistinguishable from humans.
XRP sustains above $0.51, eyes further gain as whales accumulate Ripple tokens
Ripple is being accumulated by large wallet investors as XRP holders await a court ruling in the Securities and Exchange Commission’s lawsuit against the firm. The altcoin’s accumulation by whales is a positive sign for XRPLedger’s native token.
Bitcoin: Why BTC is close to a bottom
Bitcoin (BTC) price efforts of a recovery this week have been countered by selling pressure during the onset of the American session. However, the downside potential appears to have been capped.