BREAKING: Bitcoin Cash Price Prediction: BCH prepares for 21% upswing

20 Nov 2020, 17:57 · Views 212

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.

BREAKING: Bitcoin Cash Price Prediction: BCH prepares for 21% upswing

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