Wednesday, November 13

Bitcoin Cash (BCH) Analysis: Is a Bullish Breakout on the Horizon?

Bitcoin Cash (BCH) is presently having a hard time to break through the golden ratio resistance level. If it effectively exceeds this resistance, there’s capacity for a bullish breakout in the BCH cost.

The rate of Bitcoin Cash changes in between the golden ratio assistance and golden ratio resistance levels. Regardless of these changes, a bullish breakout has actually not yet emerged.

Bitcoin Cash Struggles to Surpass $270 Golden Ratio Barrier

The rate of Bitcoin Cash is presently dealing with difficulties in going beyond the golden ratio resistance, situated around at $270. Just recently, BCH experienced a bearish rejection at this level.

In the everyday chart, the Moving Average Convergence Divergence (MACD) pie chart is trending downwards, indicating a bearish pattern. The MACD lines are still in a bullish crossover, and the Relative Strength Index (RSI) is neutral, showing combined signals.

Bitcoin Cash is discovering short-term assistance at around $249.6. Must this level be breached, the next assistance is anticipated at the 50-day Exponential Moving Average (EMA), around $234.6. In case of additional decrease, substantial Fibonacci (Fib) assistance for BCH is prepared for at the golden ratio level, around $200.

Bitcoin Cash (BCH) Price Chart. Source: Tradingview

Regardless of the existing difficulties,

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