Bitcoin Cash on the rise

1 de set. de 2023

Hi guys, let's review the current situation on Bitcoin Cash.

Bitcoin Cash reached upper bound of 200-220 resistance area on the news that Grayscale won case against SEC. This didn't last long though. Basically on the next day all optimism gone from the markets and price started to plunge again.
Unlike Bitcoin, which returned to 26k, Bitcoin Cash stayed within resistance area and didn't plunge under 200 price level. This is good news for Bitcoin Cash since if there will be some correction on Bitcoin then BCH price can rise up to 230-240 levels. But in mid-term I don't expect that Bitcoin Cash will rise much higher than 240 price and most likely it will continue to plunge.

If this post is useful to you, you can support me with like/boost and leave comments below.
Many thanks.

5 de set. de 2023

Nota

Bitcoin Cash didn't manage to sustain its rise and started to plunge under 200 price level. Currently BCH is trading under lower bound of 200-220 resistance level.
I still think that Bitcoin Cash can rise a bit and trading within 200-220 area but overall it's likely that it will keep plunging at least up to 180 price.

10 de set. de 2023

Nota

Bitcoin Cash is trading under 200 level for over a week and it's unlikely that we will see BCH above 200 any time soon. More likely that Bitcoin Cash will continue to fall towards 160 support area.

17 de set. de 2023

Nota

Bitcoin Cash price recovered after its drop and now is trading near upper bound of 200-220 resistance level. On top of this level BCH formed double top formation and it's possible that price will go down from here but need to be careful and work with a stop.
It also depend on if Bitcoin continue its rise or will go back to 25k.
In case if BCH price will break 220 level then we can say that price broke this level and we can speak about some bullish movements.

21 de set. de 2023

Nota

Bitcoin Cash continue to trade just above 200-220 resistance area. There is resistance level at 225 price which BCH apparently can't brake and it will depend on if manages to brake it or not. In case if Bitcoin Cash brakes 225 resistance level than this whole idea can be cancelled and we can start looking at longs but if BCH plunges under 220 price then idea remains active.