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Tag: Bitcoin Cash

  • Bitcoin Cash: Analyst Pinpoints Prime Moment For Strategic Buy

    Bitcoin Cash: Analyst Pinpoints Prime Moment For Strategic Buy

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    Recently, crypto analysts have been attracted to Bitcoin Cash (BCH); Alan Santana provided an extremely intricate analysis concerning the coin’s future. He advises investors though to hold off on accumulating BCH until the market shows clearer signs of stability.

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    The cautious outlook for Santana was based on the notion that, from his belief, the correction in the market wasn’t over yet. He indicated that BCH still might be due for a little room down to the bottom, likely to precede the bull market expected in 2025.

    Strategic Accumulation And Market Timing

    The analyst focuses on a meticulous accumulation strategy. Santana advises investors to wait for signals of the bottoming of the market before buying BCH. He says such patience can pay off handsomely. He also encourages one to look at both linear and logarithmic graphs, for each offers a different perspective into price action. This gives a greater overview of where BCH might be headed when both of them are combined.

    Of course, these potential returns would be for those willing to follow the advice. However, he also cautioned that such gains would most likely have to travel through further declines on the market. Timing and patience in riding out wildly swinging markets are thus what seem to be emphasized more than anything else with his strategy.

    BCH is independent of the broad market trend. In 2021, BCH led in May, a little ahead of other altcoins. In the year 2023, BCH started off in June to peak in April 2024. This time difference right here can give BCH an added strategic advantage for investors who understand that market behavior.

    World Of Charts, another analyst, recently offered an upbeat prediction for Bitcoin Cash’s (BCH) price trajectory. WOC believes that BCH is almost ready for a big bounce in the upcoming weeks.

    BCH market cap currently at $6.6 billion., Chart: TradingView

    BCH was trying a number of resistance levels at the time of his research. These milestones functioned as obstacles that BCH had to clear in order to pursue new annual highs. According to the analyst, a significant price gain may occur if BCH is able to overcome these resistance levels.

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    Short-Term Outlook: Resistance And Growth

    While Santana’s view for the long term is very conservative, the short-term BCH forecasts are pretty optimistic. CoinCheckup data interprets this to mean a possible 4.80% increase BCH over the next three months. This growth could be driven by steady accumulation and mild bullish momentum. Though modest, this could position BCH to test the $230-$240 resistance zone.

    Further out, the six-month outlook for BCH is a projected 14% rise. Assuming BCH can break out of its current resistance levels, the target will be the $270-$280 zone. But more so important will be how the market reacts at those levels, and that shall be the determinant as to whether BCH will keep the momentum or there will be heavy pullbacks.

    Featured image from Pintu, chart from TradingView

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    Christian Encila

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  • Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead

    Bitcoin Cash Price Solid 15% Gain: Signs Point to Fresh BCH Rally Ahead

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    Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone.

    • Bitcoin cash price started a fresh surge above the $250 resistance.
    • The price is trading above $265 and the 100 simple moving average (4 hours).
    • There is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair (data feed from Kraken).
    • The pair could continue to move up if it clears the $282 resistance zone.

    Bitcoin Cash Price Rallies Above $270

    After forming a base above the $232 level, Bitcoin Cash price started a steady increase. It broke the $245 resistance to enter a positive zone, like Bitcoin and Ethereum.

    There was a strong increase above the $250 and $265 resistance levels. The price gained over 15% and tested the $282 resistance. A high was formed near $283 and the price is now correcting gains. There was a move below the $275 level.

    The price tested the 23.6% Fib retracement level of the upward move from the $233 swing low to the $283 high. BCH is now showing positive signs above $260 and the 100 simple moving average (4 hours).

    Source: BCH/USD on TradingView.com

    There is also a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair. If there is another increase, the price might face resistance near $275. To continue higher, the price must settle above $282. The next major resistance is near $292, above which the price might accelerate higher toward the $300 level. Any further gains could lead the price toward the $320 resistance zone.

    Fresh Drop in BCH?

    If Bitcoin Cash price fails to clear the $275 resistance, it could start a fresh decline. Initial support on the downside is near the $265 level.

    The next major support is near the $258 level or the trend line. It is close to the 50% Fib retracement level of the upward move from the $233 swing low to the $283 high, where the bulls are likely to appear. If the price fails to stay above the $258 support, the price could test the $245 support. Any further losses could lead the price toward the $232 zone in the near term.

    Technical indicators

    4-hour MACD – The MACD for BCH/USD is losing pace in the bullish zone.

    4-hour RSI (Relative Strength Index) – The RSI is currently in the overbought zone.

    Key Support Levels – $265 and $258.

    Key Resistance Levels – $275 and $282.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Top cryptocurrencies to watch this week: BSV, BCH, FTT

    Top cryptocurrencies to watch this week: BSV, BCH, FTT

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    This week featured mixed sentiments amid a consolidation phase, with the global cryptocurrency market cap dropping from $1.66 trillion to $1.65 trillion. Some assets bucked the trend, while others succumbed to bearish pressure.

    Top cryptocurrencies — Bitcoin SV (BSV)  Bitcoin Cash (BCH) and FTX Token (FTT) — stood out.

    BSV crosses $100

    Bitcoin SV was one of the best performers this week, but its early price movements were not entirely encouraging to market watchers. The token began the week with a 4% increase, but shed off these gains when it dropped 2.05%.

    BSV price – Dec. 31 | Source: Trading View

    This drop immediately preceded a massive recovery that saw BSV appreciate by 73.32% from Dec. 27 to Dec. 28. The asset rallied by another 4.49%, eventually reclaiming the $100 pivotal psychological price level for the first time since April 2022.

    Bitcoin SV has now slumped below the $100 level, but it has retained its upward momentum, currently up 101% this month. The cryptocurrency has also increased 90.8% this week, with a current trading value of $96 at the reporting time. 

    Amid the price spike, BSV’s RSI has surged to 84.40, indicating bullish momentum and a slip into overbought territories. This metric has triggered mixed reactions, with trade volume down 52% over the last 24 hours to $335 million.

    BCH hits 5-month high

    Bitcoin Cash appears to be leveraging the market-wide uptrend at a slower pace. While other crypto assets clinched their pre-FTX and pre-Terra highs, BCH failed to even eclipse the figures it attained in July. 

    Top cryptocurrencies to watch this week: BSV, BCH, FTT - 2
    BCH price – Dec. 31 | Source: Trading View

    However, the crypto asset has picked up the pace, recently surging to a high of $287 on Dec. 30 before witnessing resistance. The last time BCH saw the $288 price level was in July. The token aims to breach the $300 psychological threshold to sustain its bullish run.

    From a technical standpoint, BCH has slipped into favorable territories, with its MACD (Moving Average Convergence Divergence) indicator indicating bullish momentum. The crypto asset’s upsurge has triggered a rise in its daily MACD, leading to a value of 7.8 with the control line reading 3.34.

    A MACD indicator with the MACD line significantly above the signal line suggests bullish momentum. In this case, the MACD line at 7.8 compared to a control line at 3.34 indicates a strong bullish trend, potentially signaling a buying opportunity for Bitcoin Cash.

    BCH currently trades for $266, up 18% this week. Amid the price rally, the crypto asset’s Commodity Channel Index (CCI) has surged to 171, indicating the price may be overbought. This extremely high reading suggests that the price is well above its historical average and may be due for a correction.

    FTT holds above $3

    The FTX Token entered the week with a bearish outlook, but has since engineered a comeback, aiming to transcend this level. Despite the comeback, the token is still down over the past week, with an 8% slump since Christmas day.

    Top cryptocurrencies to watch this week: BSV, BCH, FTT - 3
    FTT price – Dec. 31 | Source: CoinGecko

    FTT had collapsed 23.5% from $3.719 on Dec. 25 to 2.84 on Dec. 29. The asset embarked on its recovery following the drop to $2.84, rallying to a high of $3.645 but facing resistance. Despite the resistance, FTT continues to hold above the $3 price, firmly defending the support.

    Should FTT eventually break the $3.6 level, its next crucial resistance currently sits at $3.995 at the Fib. 0.382 level. This would bring the token back to the November highs. FTT’s CCI paints an interesting picture, with a current value of -67.14. This indicates that the token is largely oversold.

    Despite the bearish outlook, FTT currently trades above the 200-day EMA ($2.738), but slightly below the 50-day A ($3.539). This pattern suggests mixed sentiments, with the asset boasting a bullish long-term prospect but a bearish short-term outlook.


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    Wahid Pessarlay

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  • Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors

    Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors

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    Bitcoin Cash has followed the general growth trend of Bitcoin with the price almost clearing the $250 resistance before being rejected. Even though BCH maintains this bullish momentum, it is not completely in the clear following its delisting from one crypto exchange.

    EDX Markets Delists Bitcoin Cash

    In another unexpected blow, Bitcoin Cash (BCH) has been delisted from the EDX Markets crypto exchange. Users had first suspected that the exchange was ending support for BCH and rumors spread like wildfire through social media. Eventually, the crypto exchange will confirm these rumors, with a spokesperson revealing that EDX Markets was indeed no longer offering support for BCH.

    Contrary to the norm, EDX Markets did not give any indication of why the cryptocurrency was delisted from the exchange. Rather, users were directed to sign up for the newsletter to get updates about listings, as well as check out the website for supported coins.

    Interestingly, this is happening at a time when rumors have been circulating that EDX Markets might be planning to list XRP. This would make sense given that many exchanges have resisted the cryptocurrency after Ripple’s victory over the SEC. Since then, XRP’s volume has been on the high side and crypto exchanges have clamored for a chance to get a piece of the pie.

    BCH Price Struggles To HoldOn

    Following the rejection from the $250 level, the Bitcoin Cash (BCH) price has been hard-pressed to continue on its previous trajectory. The fall toward the $240 level shook out a good portion of longs before the bulls were able to take over once more.

    However, the BCH daily trading volume is still seeing good momentum after rising 36% in one day. If anything, this shows there is still a fair amount of interest in the altcoin with trading garnering a lot of attention from market participants.

    The major resistance to a BCH breakout currently lies at the $250 level. If the price is able to clear this resistance, then the rally is expected to continue and could touch $270 before losing steam. But it is still a long way from its yearly high of $300.

    At the time of writing, BCH is trading at $243 with 3.75% losses on the weekly chart. However, it is performing much better in the last day after rising 2.23%.

    BCH price at $237 | Source: BTCUSDT on Tradingview.com

    Featured image from Analytics Insight, chart from Tradingview.com

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    Scott Matherson

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