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Bitcoin cash started a fresh increase from the $460.00 support area and climbed above $500.00. BTC rallied towards $13,000 today, which could help BCH further in the near term.

  • Bitcoin cash price is trading with a positive bias above the $490.00 and $500.00 levels.
  • BCH is following a crucial bullish trend line with support near the $485.00 level on the 2-hours chart.
  • If there is a break above the $520.00 resistance, the price could rally towards the $550.00 level.

Bitcoin Cash Price

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Bitcoin Cash Price Analysis (BCH to USD)

Today, bitcoin price started a strong increase above the $12,000 level. It helped bitcoin cash price in staging a fresh increase above the $480.00 resistance. As a result, there was a decent rise above the $490.00 and $500.00 levels.

Bitcoin Cash Price Analysis (BCH to USD)

Click to Enlarge Chart

Looking at the 2-hour chart of BCH/USD, the pair retreated earlier from the $520.00 resistance and corrected below the $500.00 level. There was a break below the 23.6% Fib retracement level of the upward wave from the $405.20 swing low to $518.00 swing high.

However, the $460.00 level acted as decent support and the price stayed above the 25 simple moving average (2-hours). Moreover, the 50% Fib retracement level of the upward wave from the $405.20 swing low to $518.00 swing high also acted as a support.


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Therefore, the price started a fresh increase and recent rise in bitcoin pushed BCH above the $490.00 resistance level. The price even surged above the $500.00 level and it is trading towards the $520.00 level.

There is also a crucial bullish trend line forming with support near the $485.00 level on the same chart. Therefore, dips remain well supported near the $500.00 and $490.00 levels.

On the upside, an immediate resistance is near the $520.00 level. If there is a break above the $520.00 level, bitcoin cash price is likely to accelerate further higher. The next stop for BCH bulls could be near the $550.00 level.

Conversely, if there is a downside correction, the bulls are likely to defend the $490.00 or $480.00 support area.

The market data is provided by TradingView, Coinbase.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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