Bitcoin Cash (BCH) Price Analysis: BCH Consolidates Above $445 Support, Risks Further Decline

Bitcoin Cash (BCH) Price Analysis: BCH Consolidates Above $445 Support, Risks Further Decline

Key Highlights
Bitcoin Cash consolidates above $445 support
The altcoin will decline to $360 low if the current support cracks.

Bitcoin Cash (BCH) Current Statistics
The current price: $465.27
Market Capitalization: $9,776,656,121
Trading Volume: $3,847,879,504
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis March 1, 2021
Following the February 23 breakdown, the bulls have been consistently defending the $445 support level. The price has corrected upward twice to break the $560 high but was repelled. Presently, buyers are struggling to push above the $520 and $480 minor resistance levels. On the upside, if the bulls break the minor resistance levels, BCH will resume upward. However, if the bulls fail to move upward, the bears may break the current support at $445. If the bears are successful, the altcoin will decline to $360 low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH is above the 40% range of the daily stochastic. It indicates that the market is in a bullish momentum. The coin is now at level 41 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone and below the centerline 50.

BCH/USD – 4 Hour Chart

Conclusion
Bitcoin Cash is still consolidating above the current support above $445 low. The Fibonacci tool has indicated a further downward movement of the coin. On February 23 downtrend, a retraced candle body tested 78.6% Fibonacci retracement level. The retracement implies that BCH will fall but reverse at level 1.272 Fibonacci extension or the low of $360.57.


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Bitcoin Cash (BCH) Price Analysis: BCH loses $680 support, a further downward move likely

Bitcoin Cash (BCH) Price Analysis: BCH loses $680 support, a further downward move likely

Key Highlights
BCH support at $680 is broken
The altcoin may further decline to $438.57

Bitcoin Cash (BCH) Current Statistics
The current price: $687.75
Market Capitalization: $14,328,973,349
Trading Volume: $5,590,542,241
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 22, 2021
The bulls have failed to break the $725 high. Now the bears are in control as they attempt to break the $680 support level. The bottom line is if price falls and breaks below the $680 support, the selling pressure will resume. BCH/USD will further decline to $550 low if the current support cracks. However, Since February 14, the Support has not been broken. If the support holds the uptrend will resume. Also, a possible retest of the $750 resistance is likely.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH’s price has partially broken the $680 support. If price breaks and closes below the support line of the ascending channel, the downtrend will resume.BCH is below the 80% range of the daily stochastic. It indicates that the coin is in a bearish momentum.

BCH/USD – 3 Hour Chart

Conclusion
BCH is currently falling after $680 support was broken. On February 20 downtrend, a retraced candle body tested 38.2% Fibonacci retracement level. The retracement implies that BCH will fall to level 2.618 Fibonacci extension or the low of $438.57

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Have you invested in an extremely rare opportunity of a lifetime?

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

You can purchase crypto coins here.  

Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD

Note: This article was culled and abridged from a monthly cryptos update by Dr. Van Tharp. The full article can be accessed here.

You can purchase crypto coins here. 

 

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Bitcoin Cash (BCH) Price Analysis: BCH Breaks $540 Resistance and Rallies to $754 High

Bitcoin Cash (BCH) Price Analysis: BCH Breaks $540 Resistance and Rallies to $754 High

Key Highlights
BCH has rallied to a new high of $754
BCH faces rejection at the $754 as the coin falls to a $600 low

Bitcoin Cash (BCH) Current Statistics
The current price: $667.84
Market Capitalization: $14,037,218,050
Trading Volume: $13,972,399,257
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 15, 2021
Buyers broke the $540 resistance on February 12, BCH rallied to a new high of $754. Shortly after reaching the $760 resistance zone, the cryptocurrency was repelled as BCH dropped to $600 low and pulled back to $667 high. The candlestick wick tested 21-day SMA support and pulled back. However, sellers are still pushing the coin to 21-day SMA support. BCH will continue its upward move if the price falls to 21-day SMA and holds. The Selling pressure will persist if the bears break below the 21-day SMA.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH has risen above the 80% range of the daily stochastic. It indicates that the coin is in the overbought region of the market. Sellers have already emerged as prices resumed downward. It is not clear how long the price will retrace. The SMAs are sloping upward indicating the uptrend.

BCH/USD – 1 Hour Chart

Conclusion
BCH is currently falling after reaching the recent high of $754. It fell to $600 low but pulled back to $653 high. The price is now consolidating above $650 for a resumption of an upward move. A Fibonacci tool has indicated a downward movement of the coin. On February 15 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that BCH is likely to fall to level 1.618 Fibonacci extensions. That is, BCH will fall to level $506.23. However, the price action is indicating a trend reversal above $650.

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Bitcoin Cash (BCH) Price Analysis: BCH Makes a Retest at the $540 Resistance, Upward Move Unlikely

Bitcoin Cash (BCH) Price Analysis: BCH Makes a Retest at the $540 Resistance, Upward Move Unlikely

Key Highlights
BCH dropped to $470 low after failing to break the $540 resistance
A rally above $640 is possible if bulls break the $540 resistance

Bitcoin Cash (BCH) Current Statistics
The current price: $525.62
Market Capitalization: $11,094,688,029
Trading Volume: $6,870,469,903
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 11, 2021
Yesterday, the bulls failed to break the $540 resistance as price fell to $470 low. The bulls buy the dips as the altcoin resumed a fresh uptrend. Today, the $540 resistance is at the point of being broken. On the upside, if the resistance is broken, BCH/USD will retest the $640 overhead resistance. The altcoin will fall to $450 low and if the price breaks below the SMAs, BCH will fall again to $370 low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The daily stochastic is above 80% range as price approaches the $540 resistance level. Nonetheless, if sellers emerge at the overbought region, the current resistance may not be broken. Consequently, the coin will fall to the previous low.

BCH/USD – 4 Hour Chart

Conclusion
The Fibonacci tool has indicated an upward movement of the coin. On February 9 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 1.618 Fibonacci extensions. That is, BCH will rise to level $557.91. However, the bullish momentum will extend to the $640 overhead resistance.


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Bitcoin Cash (BCH) Price Analysis: BCH Rebounds, Unable to Push Above the $540 Resistance

Bitcoin Cash (BCH) Price Analysis: BCH Rebounds, Unable to Push Above the $540 Resistance

Key Highlights
BCH bulls break the $480 resistance, approaches the $540 high
The altcoin may fall into the range-bound zone if the bulls fail to break above $540

Bitcoin Cash (BCH) Current Statistics
The current price: $493.95
Market Capitalization: $10,372,958,208
Trading Volume: $7,177,132,700
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 9, 2021
Bitcoin Cash resumes upward move as bulls break the $440 and $480 resistance. The price is approaching the $540 resistance to retest or break above it. A break above the $540 resistance will accelerate price movement on the upside. However, in the previous price action, on January 14, the bulls failed to push BCH above the resistance level. Consequently, the altcoin dropped to $369 low on January 27. Today’s attempt at the $540 resistance will determine whether the coin will commence the resumption of upside momentum.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The cryptocurrency is at level 72 of the Relative Strength Index. It indicates that the market has reached the overbought region. The upward price movement is doubtful as sellers are likely to emerge to push prices down. The coin is above the 80% range of the daily stochastic. It indicates that the coin is in a bullish momentum and has reached the overbought region.

BCH/USD – 1 Hour Chart

Conclusion
BCH has resumed an upward move. On February 9 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 1.272 Fibonacci extensions and reverse. That is, BCH will reverse at a high of $509.76.



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Bitcoin Cash (BCH) Price Analysis: BCH Fluctuates Between $400 and $470, Resumes an Uptrend

Bitcoin Cash (BCH) Price Analysis: BCH Fluctuates Between $400 and $470, Resumes an Uptrend

Key Highlights
BCH will resume an uptrend if the $470 resistance is breached
The coin fluctuates between $400 and $470

Bitcoin Cash (BCH) Current Statistics
The current price: $428.37
Market Capitalization: $8,995,784,996
Trading Volume: $4,433,417,630
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 5, 2021
Bitcoin Cash is rising after falling to the low of $412. The crypto appears to be fluctuating between $400 and $470 for the past two weeks. On January 26, the bears broke the $430 support as BCH declined to $389 low. The bulls buy the dips to push BCH to $460 high. Unfortunately, BCH faced another rejection at the high of $460. The altcoin is now confined between $400 and $470. The coin will resume selling pressure if the $400 support is breached. On the other hand, BCH will resume an uptrend if the $470 resistance is breached.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The coin is above the 40% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The crypto’s price will rise if price breaks above the 21-day SMA. The coin is at level 49 of the Relative Strength Index. It indicates that there is a balance between supply and demand.

BCH/USD – Daily Chart

Conclusion
BCH has reached bearish exhaustion as the market resumes upward. on January 22 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to fall to level 1.272 Fibonacci extensions. That is, BCH will fall to a low of $343.16 and reverse.


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Bitcoin Cash (BCH) Price Analysis: BCH Faces Stiff Resistance at $440 as Bears Threaten to Short

Bitcoin Cash (BCH) Price Analysis: BCH Faces Stiff Resistance at $440 as Bears Threaten to Short

Key Highlights
BCH faces rejection twice at the $440 resistance
BCH is currently fluctuating between $390 and $440

Bitcoin Cash (BCH) Current Statistics
The current price: $415.56
Market Capitalization: $8,698,668,309
Trading Volume: $5,419,087,295
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis February 1, 2021
For the past four days, the bulls have retested the $440 resistance but were repelled. On Each retest, the price will fall to $390 low and the upward move will resume. The crypto is now fluctuating in a tight range between $390 and $440. BCH is facing stiff resistance at $440. On the downside, if the coin falls and breaks below $390, BCH will decline to $280. Similarly, if buyers can push the coin above $440, a rally to $540 is likely.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The bears have broken below the SMAs as bulls attempt to pullback. BCH has fallen into the bullish trend zone which makes it prone to further decline. The coin is at level 43 of the Relative Strength Index period 14. BCH is still in the downtrend zone and is capable of falling.

BCH/USD – Daily Chart

Conclusion
BCH is still falling and in a downward move. Meanwhile, on January 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to fall to level 1.272 Fibonacci extensions. That is, BCH will fall to a low of $342.09 and reverse. BCH will reverse to 78.6% Fibonacci retracement level where it originated.


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Bitcoin Cash (BCH) Price Analysis: BCH rebounds above $370 support as bulls face rejection at recent high

Bitcoin Cash (BCH) Price Analysis: BCH rebounds above $370 support as bulls face rejection at recent high

Key Highlights
BCH drops to the low of $370 and rebounded
Bitcoin Cash is likely to resume upside momentum if the current support holds

Bitcoin Cash (BCH) Current Statistics
The current price: $389.41
Market Capitalization: $8,178,060,983
Trading Volume: $6,672,163,220
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis January 28, 2021
Today, Bitcoin Cash is rebounding above the $370 support. The upward movement will continue if the momentum is sustained. Meanwhile, the upward move is facing rejection at the $400 high. If the bulls fail to break the current resistance at $400, BCH will continue its downward move. The downtrend has been ongoing since January 11.

In the recent breakdown, BCH was repelled at $460 resistance as the coin fell to $370 low. Before the rejection, the altcoin has been fluctuating between $430 and $470. The bears have the upper hand as the coin was repelled at the $460 high. Today, the buyers are struggling to break the current resistance at $400. A retest is possible at $540 if the current resistance is breached.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The bears have broken below the SMAs as bulls attempt to pullback. BCH has fallen into the bullish trend zone which makes it prone to further decline. The coin is at level 43 of the Relative Strength Index period 14. BCH is still in the downtrend zone and is capable of falling.

BCH/USD – Daily Chart

Conclusion
BCH is still falling and in a downward move. Meanwhile, on January 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH is likely to fall to level 1.272 Fibonacci extensions. That is, BCH will fall to a low of $342.09 and reverse. BCH will reverse to 78.6% Fibonacci retracement level where it originated.


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Bitcoin Cash (BCH) Price Analysis: BCH Falls as Bears Break the Price Range Between $470 and $540

Bitcoin Cash (BCH) Price Analysis: BCH Falls as Bears Break the Price Range Between $470 and $540

Key Highlights
BCH faces rejection twice at $540 resistance
The altcoin is on a downward move and may reach the low of $289.30

Bitcoin Cash (BCH) Current Statistics
The current price: $408.63
Market Capitalization: $8,581,330,223
Trading Volume: $5,688,248,254
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis January 27, 2021
Bitcoin Cash is in a downward move after one week of fluctuation between $470 and $540. The price broke the $470 support and dropped to the low of $391. The price corrected upward and retested the $470 high. The coin has resumed a downtrend after the retest at the recent high. As the bulls fail to sustain the price above the $540 resistance, the bears may again sink the price to the support at $370. In the meantime, BCH has fallen to the low of $407 at the time of writing.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH has fallen below the 40% range of the daily stochastic. It indicates that the coin is in a bearish momentum. The crypto’s price is falling and approaching the 50-day SMA. A break below the 50-day SMA will mean that the coin is in the bearish trend zone. BCH will be prone to a further downward move.

BCH/USD – 4 Hour Chart

Conclusion
BCH is in a downward move as the bears have the upper hand. A Fibonacci has a further downward movement of the coin. Meanwhile, on January 21 downtrend; the retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 1.618 Fibonacci extensions. That is, BCH will fall to a low of $289.30.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.