Bitcoin Cash (BCH) Long-term Price Prediction
Bitcoin Cash (BCH) Long-term Price Prediction
Unlike last week for the cryptocurrency, Bitcoin Cash sees an increase in its market bch price worth as paired with US dollar this week. The USD/BCH had been able to counter mostly some of the Bitcoin Cash’s upward pushing attempts in the previous weeks. On June 30, Bitcoin cash BCH suddenly began witnessing an up-rise in the market that engulfed the previous falling prices of about three days. The bitcoin cash rising movement continued until July 3, while on July 4 till now, the pair BCH/USD has been witnessing a ranging movement."Bitcoin Cash (BCH) Long-term Price Prediction"
The price action has also been traded along the 14-day SMA’s trend-line. The bulls have relatively taken up the greater driving strength more than the bears’ action in the present price movement. The 50-day Simple Moving Average(SMA) is situated above the 14-day Simple Moving Average (SMA) with a notable gap between them. The Stochastic Oscillators of bitcoin cash have moved well above range 20, but now lightly points southbound. This indicates that cautious needs to be a correction to determine the next line of price action.
The expectation is high on side of further seeing the current market financial status of this pair is being pushed northward sooner than later. On the backside, the bearish candles can possibly still drive the market backward to test the last lowest price point, or a bit beyond. Whilst that eventually happens, it’s a greater window of buying opportunities for both the traders and the investors. But the traders should always apply a sound financial management guide while placing their trades.
Bitcoin Cash price engaged reverse gears on Friday after opening the trading marginally above $744. The support level at $710 came in handy allowing buyers to enter and push for higher corrections in the market. The bch trend is still bearish although there is a weak bullish pattern above $720. Both the 50 SMA and the 100 SMA are acting as resistance lines at $730.2 and $737.2 respectively.
Bitcoin Cash is locked within the confines of a descending channel that was initiated in the first week of June. The slide of a crypto market through the month of June resulted in BCH/USD trading at $654 before embracing the brief bullish pattern trend that has ensued in the first week of July. However, the bitcoin cash bch is currently trimming the gains after it failed to sustain above $800.
Bitcoin Cash (BCH) Long-term Price Prediction
Reviewed by mir khaleq ali
on
08:12
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Reviewed by mir khaleq ali
on
08:12
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