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Bitcoin Cash rallies over 8% after Binance announced support of Bitcoin Cash hard fork

  • Bitcoin Cash price held decent gains of around 7%, after spiking to the upside in afternoon trading.
  • Binance announced through their blog, they will be supporting the Bitcoin Cash hard fork. 
  • Within 3 hours of trading BCH/USD rallied some 8%, following the news. 
Bitcoin Cash rallies over 8% after Binance announced support of Bitcoin Cash hard fork
Ken ChigboKen ChigboIndependent Analyst

BCH/USD 60-minute chart 


 

Spot rate:                  457.5

Relative change:      +7.22%

High:                         463.2

Low:                          425.2

Trend:                        Neutral

Resistance 1:             463.0, resistance on 60-minute.

Resistance 2:             467.8, 18th October.

Resistance 3:             470.0, supply zone. 

Support 1:                  456.3, support on 60-minute.

Support 2:                  443.1, demand area.

Support 3:                  431.5, on top of bull flag.

Author

Ken Chigbo

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.

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