[Bitcoin Cash Price Forecast] Analyst: BCH will exceed $640
Bitcoin Cash price forecast is expected to rise to $640.
Strong resistance is at the $505 mark.
Strong support is located at the $470 mark.
The Bitcoin Cash price prediction of Master Shark indicates an upward break of the triangle pattern. Analysts believe that the cryptocurrency will break through the $640 mark for a long time. On January 18, the BCH price broke through the $500 mark and then returned to the $492 mark.
1-day Bitcoin Cash price analysis
Bitcoin Cash price prediction chart in transaction view
At the time of writing, Bitcoin Cash is $497.57. In the past 24 hours, the highest price of the cryptocurrency was US$509.52, and on January 18, the price fell to a low of US$469.16. The BCH price crossed the $500 USD mark before suffering fluctuations between $472 and $492.
Fifteen technical indicators show buy instructions, while 9 indicators remain neutral and four give sell signals. Among these 11 oscillators, we see two at selling points, one at buying position, and eight at neutral indicators. Among the 17 moving averages, 14 tend to buy signals, one is in a neutral state, and two are in a sell state.
Bitcoin Cash is testing the midline of the Bollinger Bands and is testing within a one-dimensional time frame. An increase can be observed in the expansion, which indicates an increase in price volatility. Currently, cryptocurrencies should move laterally in a short period of time.
Bitcoin Cash price prediction: what will happen?
The Bitcoin Cash price of Master Shark, a trading perspective analyst, predicted the break of the long triangle pattern. Analysts expect the price to exceed the $637 mark.
Bitcoin Cash price prediction chart by Master Shark
The cryptocurrency jumped above the triangle pattern in December 2020 and retested the broken trend line. Since the third quarter of 2020, transaction volume has continued to increase. The Bitcoin Cash price forecast indicated that the price immediately moved towards the $637 level after breaking through the short accumulation area above the trend line. In the long term, the next targets for cryptocurrency will be 666 USD, 942 USD and 1771 USD. If it works, this idea will bring a bumper day to Bitcoin Cash traders.
Analyst Boss Mode Trader also emphasized the breakthrough obtained from the descending triangle pattern. Analysts expect that after a brief price correction, the price will rise above the $511 mark and then move towards the $647 mark for a long time. Bitcoin Cash price predictions place cryptocurrencies in a larger ascending channel, with long-term goals at the top of the main channel.
Analyst Hyper Boy also proposed a triangle pattern on the BCH/USD chart. Analysts marked the breakout of the triangle formation in the Bitcoin Cash price forecast, and they expect the target price after the long-term breakout to be $646. Super Boy recommends that traders continue to hold the BCHUSD currency pair in 2021. The stop loss set by the transaction is set within the $400 mark.
The transaction view analyst De Gram believes that the BCH price will rise above the $560 level after rebounding from the bottom of the upward channel. In this Bitcoin Cash price prediction, the price is currently at the lower boundary of the ascending channel.
Article reprinted: www.chaogu886.com