{"id":111584,"date":"2021-02-05T16:21:51","date_gmt":"2021-02-05T16:21:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111584"},"modified":"2021-02-05T16:21:51","modified_gmt":"2021-02-05T16:21:51","slug":"bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/","title":{"rendered":"Bitcoin Cash Continues to Push on the Upside, Can Bulls Break the Initial Resistance Levels?"},"content":{"rendered":"

Bitcoin Cash bulls are desperate as they attempt to break the $440 resistance today. Yesterday\u2019s attempt at the resistance was disappointing as the coin fell to the low of $412. <\/strong><\/p>\n

Before now, the altcoin has been fluctuating between $400 and $440 for the past two weeks. On January 26, the bears broke the $400 support as BCH declined to $389 low. <\/p>\n

The bulls buy the dips to push BCH to $460 high. However, BCH faced another rejection at the high of $460. The altcoin is now confined between $400 and $440. The coin will resume selling pressure if the $400 support is breached. On the other hand, BCH will resume an uptrend if the $440 resistance is breached. If the bullish momentum is sustained, BCH will reach a high of $500.<\/p>\n

Bitcoin Cash indicator reading  <\/h2>\n

The crypto\u2019s price is attempting to break above the SMAs. A break above the SMAs will accelerate the upward movement of the coin. The crypto is at level 51 of the Relative Strength index period 14. It indicates that there is a balance between supply and demand.  <\/p>\n

<\/p>\n

Technical indicators:   <\/h3>\n

Major Resistance Levels \u2013 $480 and $440<\/p>\n

Major Support Levels \u2013 $400 and $360<\/p>\n

What is the next move for Bitcoin Cash? <\/h2>\n

BCH has resumed an upward move as bulls attempt to break the initial resistance levels. On February 4 uptrend; the retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that BCH is likely to rise to level 2.0 Fibonacci extension. In other words, BCH will rise to a high of $520.83.<\/p>\n

<\/p>\n

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.<\/i><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin Cash bulls are desperate as they<\/p>\n","protected":false},"author":3,"featured_media":111583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin Cash Continues to Push on the Upside, Can Bulls Break the Initial Resistance Levels? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash Continues to Push on the Upside, Can Bulls Break the Initial Resistance Levels? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Cash bulls are desperate as they\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-05T16:21:51+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafotod3bf9fd7fb9629b8d16d75cc4454772d.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-cash-continues-to-push-on-the-upside-can-bulls-break-the-initial-resistance-levels\/\",\"name\":\"Bitcoin Cash Continues to Push on the Upside, Can Bulls Break the Initial Resistance Levels? 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