Key Resistance Levels: $279, $300, $322
Key Support Levels: $236, $215, $200
Bitcoin Cash saw a slight daily increase following a nice recovery from $236 this week, although the gain is still mild compared to the recent $1000 surge in Bitcoins price (from $9000 $10000).
While most of the top cryptocurrencies created a new 7-week high, Bitcoin Cash is still struggling below the mid-March drop level of $280 where the grey supply zone lies in the above price chart.
Buyers appeared to be stepping back in the market following the latest positive moves. The double-bottom pattern around $236 is also an indication of a potential price increase.
BCH might see a massive price growth once the bulls manage to conquer the grey supply zone. However, the price may remain trapped if it continues to suppress bullish actions. As of now, Bitcoin Cash is starting to show strength and currently priced around $270 against the US Dollar.
Following this weeks bullish trajectory from $236 to a current price of around $270, BCHs next target lies at $279. A successful cross above the $280 level should send price straight to $300 and $322 resistance.
As can be seen on the graph, Bitcoin Cash is relying on the green trend line. In case of a breakdown, the first level to watch for is $236 (the weekly support), followed by $215 support. The price may roll to $200 if the selling volume continues to increase.
Key Resistance Levels: 0.030 BTC, 0.0325 BTC
Key Support Levels: 0.0248 BTC, 0.022 BTC
After finding a bottom in March, Bitcoin Cash saw a decent 34% recovery to reach 0.038 BTC level on April 8 before the price got rejected. It is now trading at around 0.0275 BTC.
In fact, Bitcoin Cash is now around the green line of the 0.0275 BTC support that got broken down during the mid-week. The recovery is likely to become significant if the bulls push higher. Considering the latest positive developments, BCH bulls appear to be showing a lot of commitment to the upside. However, the buying pressure could end soon.
If Bitcoin Cash manages to find support at the immediate green trend line, more bullish action could be expected soon. The bears are likely to resume pressure if the level fails to hold.
Bitcoin Cash recovery above Marchs low is now providing buyers with more opportunities in the market. The resistance to watch above this line is 0.0325 BTC, marked grey. Its also important to keep an eye on the key level of 0.030 BTC along the way to confirm more gains.
For a bearish continuation, the level to watch here is 0.0275BTC. If it fails to act as support for Bitcoin Cash, the price may roll back to 0.024 BTC.
Enjoy reading? Please share:
Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency chartsby TradingView.
Follow this link:
- Bitcoin Cash: Why It's Forking the Blockchain And What That ... - January 26th, 2018 [January 26th, 2018]
- Bitcoin Cash: Peer-to-Peer Electronic Cash (BCH) - January 29th, 2018 [January 29th, 2018]
- Bitcoin Cash Definition | Investopedia - January 31st, 2018 [January 31st, 2018]
- Bitcoin Cash: The New King of Cryptocurrency? | Investopedia - January 31st, 2018 [January 31st, 2018]
- What is Bitcoin Cash? - January 31st, 2018 [January 31st, 2018]
- Bitcoin vs. Bitcoin Cash: What's the Difference ... - February 12th, 2018 [February 12th, 2018]
- Why Bitcoin Cash Is Not Bitcoin [BTC vs. BCH - Differences ... - March 24th, 2018 [March 24th, 2018]
- What is Bitcoin Cash | Learn about Bitcoin Cash - June 21st, 2018 [June 21st, 2018]
- What is Bitcoin Cash? BCH vs Bitcoin | CoinCentral - July 6th, 2018 [July 6th, 2018]
- Bitcoin Cash (BCC) : Everything You need to know about ... - July 22nd, 2018 [July 22nd, 2018]
- Bitcoin Cash, Litecoin and Ripple Daily Analysis 20/07/18 - July 29th, 2018 [July 29th, 2018]
- What is Bitcoin Cash? - cointelegraph.com - July 29th, 2018 [July 29th, 2018]
- How to Claim Your Bitcoin Cash and Sell it for Bitcoin ... - August 2nd, 2018 [August 2nd, 2018]
- Robinhood Adds Bitcoin Cash & Litecoin Trading, Will ... - September 18th, 2018 [September 18th, 2018]
- Bitcoin Cash: Peer-to-Peer Electronic Cash (BCH) - reddit - October 7th, 2018 [October 7th, 2018]
- Bitcoin Cash (BCC) price, rating, news, and analysis ... - November 1st, 2018 [November 1st, 2018]
- Bitcoin Cash | The best Bitcoin can be. - November 1st, 2018 [November 1st, 2018]
- Bitcoin Cash (BCH) Price, Chart, Info | CoinGecko - November 19th, 2018 [November 19th, 2018]
- 'Real Risk': Blockstream Exec Warns Over Bitcoin Cash 51 ... - November 19th, 2018 [November 19th, 2018]
- Is Bitcoin ABC Really Winning the Bitcoin Cash "Hash War ... - November 19th, 2018 [November 19th, 2018]
- Bitcoin Cash: ABC Futures Cross $300 in Hard Fork Aftermath - November 19th, 2018 [November 19th, 2018]
- Top 11 Best Bitcoin Cash Wallets (BCH) to Store Bitcoin Cash ... - November 19th, 2018 [November 19th, 2018]
- Bitcoin Cash vs. Bitcoin | The Pros and Cons - CoinCentral - December 27th, 2018 [December 27th, 2018]
- Bitcoin Cash is 41.7% Up, Will the Upside Momentum Sustain? - December 27th, 2018 [December 27th, 2018]
- Bitmain Fires Entire Bitcoin Cash Development Team: Report - December 31st, 2018 [December 31st, 2018]
- Best Bitcoin Cash Wallets (BCH): Free Money For Every ... - March 21st, 2019 [March 21st, 2019]
- Litecoin & Bitcoin Cash Fuel Staggering $33 Billion Crypto Rally - April 9th, 2019 [April 9th, 2019]
- Bitcoin Cash Has Nearly Doubled Since Monday - forbes.com - April 9th, 2019 [April 9th, 2019]
- Bitcoin Cash, Litecoin And Dogecoin Bulls Aim Higher Despite ... - April 9th, 2019 [April 9th, 2019]
- Bitcoin Cash, Tron (TRX), BNB, LTC & EOS Could Continue To ... - April 9th, 2019 [April 9th, 2019]
- Bitcoin Cash Futures Volumes: A Prelude to the Recent BCH ... - April 20th, 2019 [April 20th, 2019]
- Bitcoin Cash (BCH) Downside Thrust Underway Before Sharp ... - April 20th, 2019 [April 20th, 2019]
- SBI Delists Bitcoin Cash | Keeps Support for Bitcoin SV - April 20th, 2019 [April 20th, 2019]
- Bitcoin Cash: Where BCH Stands the Day after the Hard Fork - April 20th, 2019 [April 20th, 2019]
- Crypto Market Near Turning Point: BNB Up 10%, Bitcoin Cash ... - April 20th, 2019 [April 20th, 2019]
- Crypto Market Wrap: Bitcoin Cash (BCH) Leading $6 Billion Surge - May 9th, 2019 [May 9th, 2019]
- Crypto Investing in the 2020s - FXStreet - October 16th, 2019 [October 16th, 2019]
- Latest cryptocurrency news and prices, 16 October 2019 - The South African - October 16th, 2019 [October 16th, 2019]
- More than 87% of Global Virtual Asset Trading Now Traceable with CipherTrace - Business Wire - October 16th, 2019 [October 16th, 2019]
- More than 87 per cent of global virtual asset trading now traceable with CipherTrace - HedgeWeek - October 16th, 2019 [October 16th, 2019]
- Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH) Price and Analysis Will the Bulls Maintain the Unbeatable Trend? - NullTX - October 16th, 2019 [October 16th, 2019]
- Ex-CEO of Google Africa: Bitcoin a Gift That Will Change Humanity - Cointelegraph - October 18th, 2019 [October 18th, 2019]
- 10 of the Best Telegram Crypto Channels - Bitcoin News - October 18th, 2019 [October 18th, 2019]
- Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin - newsBTC - October 18th, 2019 [October 18th, 2019]
- Talking Money: The rise and fall and rise again of cryptocurrencies - The Scotsman - October 18th, 2019 [October 18th, 2019]
- The Crypto Daily Movers and Shakers -16/10/19 - Yahoo Finance - October 18th, 2019 [October 18th, 2019]
- CipherTrace adds support for over 700 crypto assets, including bitcoin cash, ether and tether - Yahoo Finance - October 18th, 2019 [October 18th, 2019]
- Binance.US Allowed USA Users To Buy Bitcoin with Debit Cards - Bitcoinik - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin and Altcoins Sighting Next Significant Break - Cryptonews - November 2nd, 2019 [November 2nd, 2019]
- Anonymous Bitcoin Price Prediction Finally Poised to Fail - BeInCrypto - November 2nd, 2019 [November 2nd, 2019]
- Bitwage Allows Companies in the EU, UK and US to Pay Wages in Bitcoin Cash - Inside Bitcoins - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash Price Changed by -2.38 percent - ICO Brothers - November 2nd, 2019 [November 2nd, 2019]
- The Crypto Daily Movers and Shakers -01/11/19 - Yahoo Finance - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash Retraces and Attempts to Retest the Previous High of $300 - Coin Idol - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash more vulnerable to timestamp manipulation than Bitcoin: BitMEX Research - AMBCrypto - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash, NEO and XRP Price Prediction and Analysis for October 29th - NullTX - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash First Halving Countdown Begins, To Happen in May 2020 - Coinpedia - November 2nd, 2019 [November 2nd, 2019]
- The resolution of the Bitcoin Cash experiment - CoinGeek - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin Cash's Q3 performance was horrid here's what happened - The Next Web - November 2nd, 2019 [November 2nd, 2019]
- Bitcoin and Altcoins Topside Bias Vulnerable - Cryptonews - December 4th, 2019 [December 4th, 2019]
- Bitcoin Cash Price Changed by -0.4 percent - ICO Brothers - December 4th, 2019 [December 4th, 2019]
- SoFi gets New York BitLicense, set to offer crypto trading in the state - Decrypt - December 4th, 2019 [December 4th, 2019]
- Bitcoin and Altcoins Gaining Bearish Momentum - Cryptonews - December 4th, 2019 [December 4th, 2019]
- Bitcoin Cash Price Changed by -0.01 percent - ICO Brothers - December 4th, 2019 [December 4th, 2019]
- Bitcoin Cash Price Changed by -1.04 percent - ICO Brothers - December 4th, 2019 [December 4th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 04/12/19 - Yahoo Finance - December 4th, 2019 [December 4th, 2019]
- Moon Cash | Free bitcoin cash faucet - December 4th, 2019 [December 4th, 2019]
- Altcoin apocalypse the dramatic fall of XRP, Bitcoin Cash and ZEC - Born2Invest - December 7th, 2019 [December 7th, 2019]
- The Crypto Daily Movers and Shakers -07/12/19 - Yahoo Finance - December 7th, 2019 [December 7th, 2019]
- Bitcoin's bumpy revolution may be only just beginning - The Independent - December 7th, 2019 [December 7th, 2019]
- Early BTC Investor Roger Ver Says Bitcoin Cash Set to Skyrocket A Thousand Times From Where It Is Now - The Daily Hodl - December 7th, 2019 [December 7th, 2019]
- Bitcoin Cash Price Analysis - Will The Uptrend Continue Above $212? - KryptoMoney - December 7th, 2019 [December 7th, 2019]
- Award-Winning Bay Area Nonprofit Now Accepts Bitcoin, Bitcoin Cash, and Ethereum Donations through BitPay - Send2Press Newswire - December 7th, 2019 [December 7th, 2019]
- Understanding the distribution of the crypto market: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Cardano - FXStreet - December 7th, 2019 [December 7th, 2019]
- Open Positions Report: Where's the money in the crypto market? Bitcoin, Ethereum, Litecoin, Bitcoin Cash - FXStreet - December 7th, 2019 [December 7th, 2019]
- Bitcoin Cash Price Analysis: BCH/USD ruthless bears gnaw the price towards $200 - FXStreet - December 7th, 2019 [December 7th, 2019]
- Bitcoin Cash (BCH) Bounces, a Move above $227 Increases the Prospect of a Rally - Coin Idol - December 7th, 2019 [December 7th, 2019]
- Rebranded Localcryptos Lets You Cash Out BTC Peer to Peer Minus the Hassle of KYC - Bitcoin News - January 30th, 2020 [January 30th, 2020]
- BCH Price Momentum Astounds the Traders Overnight - NameCoinNews - January 30th, 2020 [January 30th, 2020]
- Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement - Bitcoin News - January 30th, 2020 [January 30th, 2020]