BCH Bounce: Bitcoin Cash made a significant recovery, bouncing from a crucial support at $180 to cross the $200 psychological barrier.
EMA Breakthrough: BCH successfully broke above the 50-day Exponential Moving Average (EMA), indicating a potential bullish trend.
Recent Performance: Over the last eight days, BCH has shown a strong 23.60% bounce from its 200-day EMA, suggesting underlying strength.
Resistance Ahead: BCH faces a supply challenge at $228, which coincides with the 38.20% Fibonacci retracement level.
Bullish Indicators: The daily Relative Strength Index (RSI) has shifted into the bullish territory, while the Moving Average Convergence Divergence (MACD) has signaled a bullish crossover.
Potential Upside: If BCH can sustain its momentum and break the $228 resistance, it has the potential to target higher levels at $258 and even $300.
External Factors: The upcoming Bitcoin ETF decision could significantly influence BCH's trajectory. A positive decision might further fuel BCH's rally, while a delay could pose challenges.
Caption from Detailed Technical Analysis Pointers:
🚀 #BitcoinCash Analysis Deep Dive! 🔍
BCH Bounce: From $180 support, now above $200! 📈
EMA Signal: Broke the 50-day EMA, bullish trend ahead? 🌟
Recent Surge: Strong 23.60% bounce off
Will It Cross $250?
EMA Breakthrough: BCH successfully broke above the 50-day Exponential Moving Average (EMA), indicating a potential bullish trend.
Recent Performance: Over the last eight days, BCH has shown a strong 23.60% bounce from its 200-day EMA, suggesting underlying strength.
Resistance Ahead: BCH faces a supply challenge at $228, which coincides with the 38.20% Fibonacci retracement level.
Bullish Indicators: The daily Relative Strength Index (RSI) has shifted into the bullish territory, while the Moving Average Convergence Divergence (MACD) has signaled a bullish crossover.
Potential Upside: If BCH can sustain its momentum and break the $228 resistance, it has the potential to target higher levels at $258 and even $300.
External Factors: The upcoming Bitcoin ETF decision could significantly influence BCH's trajectory. A positive decision might further fuel BCH's rally, while a delay could pose challenges.
Caption from Detailed Technical Analysis Pointers:
🚀 #BitcoinCash Analysis Deep Dive! 🔍
BCH Bounce: From $180 support, now above $200! 📈
EMA Signal: Broke the 50-day EMA, bullish trend ahead? 🌟
Recent Surge: Strong 23.60% bounce off
Will It Cross $250?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.