Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Bitcoin Cash forms both a triangle pattern as well as a range To buy or not to buy, that is the question Bitcoin [BTC] surfaced above the $20k mark for a few hours. The […]
pointed out that there were many short-term bearish factors at play behind Bitcoin Cash. Have the bulls been able to overcome these obstacles, or do the sellers still have the upper hand?The chart had two, slightly different scenarios that could unfold over the next week. Highlighted in yellow, awas spotted. BCH surged to $164 in mid-July but was rebuffed in that area. Since then, the price has formed a series of lower highs. A daily session close beneath $108.
The $112 level was also a key support level in the past four months, and a retest of this level would likely offer a buying opportunity. Yet, there was also a good chance that a bullish Bitcoin over the next few days could spur BCH above $123.
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