Nearly 60% Of Bitcoin Investors Say They’ll HODL To The Grave...

12m
zycrypto

Compound (Comp) Took The Crypto Market By Storm, But Is There More To It?

12m
zycrypto

Dubious bZx Token Sale Sparks DeFi Fairness Debate

13m
beincrypto

How Will The Upcoming US Election Impact Bitcoin’s Price Performance This Year?

42m
zycrypto

The Future of Blockchain Technology as An Investment...

43m
bitcoinist

‘How to Buy Bitcoin in India’: Crypto Exchange Offers Rewards for Videos in All Indian Languages

2h
thebitcoinnews

Bitcoin’s correlation with gold is critical as fears of a stock market collapse grow

2h
cryptoslate

Bank of England mulls digital currency as Chinese efforts surge

2h
cryptoslate

Binance In South Africa Review – How-To Guide, Fees, and Limits

2h
thebitcoinnews

Bitcoin Price Analysis: BTC Bulls Aiming Next Key Bullish Break

2h
livebitcoinnews

Bitcoin Cautious As Analyst Predicts Pullback in Risk-On Markets in July

4h
bitcoinist

Bank of England Still Debating Creation of Central Bank Digital Currency, Says Bailey

4h
thebitcoinnews

Digital asset fintech company The Bayesian Group launches

5h
thebitcoinnews

Digital asset fintech company, The Bayesian Group, launch

5h
thebitcoinnews

Ethereum 2.0 May Launch By Nov 2020 or Jan 2021, Core Devs Reveal

6h
cryptoticker

Survey: 60% of Bitcoin Investors Will Die With Their BTC If Price Stays Below $10,000

7h
thebitcoinnews

After 200% Rally Since Start of 2020, Cardano (ADA) May Suffer a Retracement

8h
bitcoinist

9303.51 Remains a Key BTC/USD Challenge: Sally Ho's Technical Analysis 15 July 2020 BTC

8h
cryptodaily

Covid-19 Stimulus: Banks Will Gain $18 Billion in Fees for Processing PPP Relief Loans

8h
thebitcoinnews

Chainlink’s competitor, BAND Protocol, is up 100% in the past week

8h
cryptoslate

Fidelity Investments invests big in Bitcoin mining as institutions want crypto

8h
cryptoslate

Why unprecedented exchange inflows aren’t stopping Chainlink’s momentum

8h
cryptoslate

Aggregate ERC20 Market Cap Outpaces Valuation of ETH in Circulation by $2 Billion

9h
thebitcoinnews

WBD236 - Bitcoin UX & Marketing with Dan Held

9h
letstalkbitcoin

Bitcoin is Flashing Signs of Weakness as It Trades Below Crucial Level

10h
bitcoinist


Bitcoin Cash Rallies 8%: Here’s Why A Surge To $300 Is Likely

Bitcoin cash price is up more than 8% and it broke the key $250 resistance. BCH seems to be outpacing BTC and it could even climb towards $275 or $300 in the near term.

Recently, there was a strong increase in bitcoin price above the $10,000 resistance. It sparked a major surge in bitcoin cash price above the $240 and $250 resistance levels.

A strong support base was formed above $235 and the 100 simple moving average (4-hours). The recent surge was such that the price even broke the $255 pivot level.

BCH is now testing the 1.236 Fib extension level of the last key decline from the $255 swing high to $220 low. There is also a major bullish trend line forming with support near $246 on the 4-hours chart of the BCH/USD pair.

Bitcoin Cash Price

The current price action is very bullish, suggesting more gains in the near term above $265. An immediate resistance is near the $270 level. The first major resistance is near the $275 zone (the last key resistance). It is also close to the 1.618 Fib extension level of the last key decline from the $255 swing high to $220 low.

If bitcoin cash surges above the $270 and $275 resistance levels, the bulls are likely to aim a test of the $300 resistance zone. An intermediate resistance could be near the $288 level.

In the short term, there could be a minor pullback in bitcoin cash from $262 or $265. On the downside, the first support is seen near the $255 level (the recent breakout zone).

The main support is now forming near the trend line and $245. Any further losses may perhaps lead the price towards the $235 support and the 100 simple moving average (4-hours).

Technical indicators

Hourly MACD – The MACD for BCH/USD is currently gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well above the 60 level, with a bullish angle.

Key Support Levels – $255 and $245.

Key Resistance Levels – $275 and $300.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments