Bitcoin Cash has recovered considerably from the downswing experienced after the $339 peak achieved in August.
At the time of writing, BCH looks towards a potential breakout to $320 or a breakdown that would erase the gains made to $193.
Bitcoin Cash bullish outlook gaining traction
BCH is trading at $259 while holding at the apex of a symmetrical triangle pattern.
This pattern is typical in technical analysis and is created by drawing a line to connect a series of lower highs and another trendline connecting higher lows.
It represents a period of consolidation ahead of a breakout or a breakdown.
In this case, a breakout would elevate Bitcoin Cash to a price target of $320.
An ongoing bullish momentum suggests that a break above the upper trendline is the most probable.
Besides, the Relative Strength Index reinforces the bullish outlook after crossing above the midline.
Read more from the original article:
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發