Bitcoin Cash (BCHUSD) Offers Potential Bullish Opportunity

Bitcoin Cash (BCHUSD) Price Forecast: December 20

The BCHUSD market is gaining traction. The coin is making solid progress, offering a potential bullish opportunity, and trades at the upper part of the chart today, signaling strong market optimism. Based on the analysis of the current trade, if the bulls increase their tension, the coin price may rally from the $595.00 daily candle above the $615.91 previous high accumulation zone and further accelerate to the upper resistance level of $650.91, resulting in potential gains for the coin holders.

Key Levels:
Resistance Levels: $594.00 $595.00, $596.00
Support Levels:     $443.00, $442.00, $441.00

BCH (USD) Long-term Trend: Bullish (Daily Chart)

Another opportunity to invest in BCHUSD has occurred, offering potential bullish trade in the long-term outlook.
The chart indicates that the coin is now trading above the supply level and is facing the upper resistance channel, suggesting bullish momentum.

The crypto price remains firm above the supply levels in its recent high due to an increasing order flow from bulls at $580.43 in the last session.

Today, Bitcoin Cash buyers continue the journey up north and made a strong push to the $595.00 high mark above the EMA-50, confirming a strong bullish opportunity and a buy continuation.

Thus, if this bullish growth pattern persists and the further bearish thesis is hibernated, an established uptrend will be achieved as it soars higher.

In addition, continuation to the upside is likely as price indicator projects an upward move, implying that the potential bullish opportunity will most probably continue, and the pattern might hit the $615.91 peak barrier which may further rally to the $650.00 upper resistance level as the BCHUSD pair offers a potential bullish opportunity as well as a buy signal in its higher time frame.

BCH (USD) Medium-term Trend: Bullish (4H Chart)

The Bitcoin Cash uptick move is poised to hit the upper high level as it soars past crucial levels on the medium-term chart.
The price currently trades above the EMA, making higher highs and moving towards the upper resistance area.

The successful breakout by the bulls to the $568.42 supply value in the last action has contributed to the coin market going long and retaining its bullish strength lately.

The market price of BCHUSD, which surges to a $589.92 high level, suggests an improved bullish market sentiment.

Thus, closing the 4-hourly session above the $606.58 previous peak value will set the potential rally on a higher level, resulting in an opportunity to invest more in the asset.

Notably, the daily signal indicates an uptrend, and this may reach the $650.00 upper resistance level, suggesting high conviction from buyers.

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