Altcoins News

Bitcoin cash fork: BCH technical analysis

Bitcoin cash fork – Bitcoin cash has seen a very bullish trend over the weekend with the coin gaining over 20% on Sunday. This gain is being sparked by the announcement made by Binance (the now second largest exchange by trading volume) that the exchange will be supporting the upcoming Bitcoin cash fork planned for around the 15 November.

This saw the coin hit a high of over $586, making it the highest point of the coin for over a month now. As of writing time, Bitcoin cash is trading at around $553, signifying a minor correction. Here we will discuss what to expect from the coin in the next coming hours and days ahead leading to the fork.

From the above chart, Bitcoin Cash is still showing a bullish trend as the 12 hours Boll is showing a divergence trend from it’s low of its 12 hours low of around $531. This indicates that the bulls are still around the corner and we can expect, and upside move anytime soon.

According to the chart above by analyst SUGUNBY, BCH just tested its previous high and there should be a reversal trend. After the pessimism barrier of $580, there should be another move upward towards $600 with a very good support at $520.

What to expect from Bitcoin cash fork as we head towards November 15

As we head towards Nov 15, I believe the Bullish trend should continue as this Bullish movement is being sparked by the upcoming fork. However, after the fork, we can expect BCH to get into a bearish trend.

Where do you think we can expect the price of BCH to go as we draw closer to the Bitcoin cash fork? Will the trend continue even after the Bitcoin cash fork?

Share your thoughts in the comment section below

Leave a Comment

Your email address will not be published. Required fields are marked *