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BCH market analysis
WillyNiuNiu
BCH, also known as Bitcoin Cash.
Historically, when Bitcoin breaks through the previous highs, Bitcoin Cash will also try to climb upwards. Looking at the larger timeframe, Bitcoin Cash appears to have formed a consolidating triangle pattern. If this consolidating triangle breaks upwards, in the short term, Bitcoin Cash may try to test the previous high, which is the level of more than $500. As for whether it can show a stronger bullish trend in the medium and long term, the heavier resistance zone is probably around $600. It will be difficult for Bitcoin Cash to return to levels like $1,000 or $1,700. But in this bull market where bitcoin is rising, there is some room for imagination to return to about $600.
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