The Bitcoin Cash: the cost will rise to $520✍

The Bitcoin Cash: the cost will rise to $520✍

Key points

  • Course Bitcoin Cash significantly increased, breaking the resistance at $440.

  • On the four-hour chart has formed a bullish trend with support level at $480 (according to the exchange Kraken).

  • The price of coins continues to grow towards the next key barrier at $500.

The Bitcoin Cash will rise as long as the value of the asset exceeds $480, as this area increases, the purchasing activity of traders.

Bullish trend is gaining momentum.

This week's BCH started to go up from the support zone at around $415. During the upward movement of the buyers has broken through several key resistance barriers: $430, $440 and $460. The price of coins skyrocketed to $511, and then corrected to $477.

During the last increase of value of cryptocurrency from $428 to $511 coin was trading above 23.6% Fibonacci level, however, the barrier support at around $470 stopped further decline in value. The graph formed two powerful areas of support: at the level of $480 and $460, so even in the case of trend reversal on bearish price koina falls below $460.

The chart data indicate a continued upward trend until the next barrier of resistance in the area of$500. If buyers retain control over the market, bullish trend will gain momentum and BCH will rise to $520.

The MACD in 4 hours – in the zone of the bullish trend.

The RSI 4 hours – above 50.

Basicallylevel of support - $480.

Major resistance is $500.

The Bitcoin Cash for the week prepared in accordance with technical indicators and current situation on the market!

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