Bitcoin Cash Price: BCH bounces back to $550
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Bitcoin Cash’s price is now extremely bullish, retreating from its previous highs and forming another high low.
Retreating from its previous highs Bitcoin Cash’s price is now extremely bullish. Due to the result, it is anticipated that BCH/USD rises again till it reaches $680.
Bitcoin Cash sets another higher low
According to the 24hours, bitcoin cash prices do vary within a huge range of $535 to $549 suggesting little movement.
From yesterday value trading volume is at $6.73 billion. However, the market capitalization of bitcoin is around $10 billion.
BCH/USD 4-hour chart
The 4-hours bitcoin price analysis chart has more momentum as bulls solidify their position and aim for new highs in the next 24 hours.
However, Bitcoin Cash’s price has been moving horizontally as it attempts to break through $680–$700. At $690 a resistance was broken in the middle of August.
Bitcoin Cash’s price varies significantly on August 10th. It reduced from a peak of $1,145 to a low of $780 on August 16th.
On August 18th the currency’s support was re-examined at $680. Before breaking out, It produced two new lows of the lower resistance level.
BCH/USD has been finding support since then after the prior local went high. Even when they have been some bullish activities suggesting that bulls may need to push the market higher again early next week.
We anticipate that the Bitcoin Cash price analysis market will encounter resistance at $650. It would indicate another attempt by Bitcoin Cash to establish a new high if the barrier is broken.
This morning the bitcoin price cash had increased, after a sluggish retracement from $650 resistance. The expectation of BCH/USD rising above this level early next week is expected especially if the bulls pursue their strategy.
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