Bitcoin Cash

Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-cash-bch-price-analysis-more-than-a-savior-will-200-day-ema-prove-a-great-buying-spot/">Bitcoin Cash (BCH) Price Analysis: More Than A Savior, Will 200-day EMA Prove A Great Buying Spot?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Maintaining a consolidation phase for the past week, the BCH coin price ignores the market-wide selling storm. Bitcoin Cash showcases solid holders’ confidence thanks to the crucial support of the 200-day EMA and the 61.80% Fibonacci level at $180.&nbsp; 
With a YTD growth of 96%, BCH coin price proves to be a profitable investment and beats other blue chip altcoins with this phenomenal return. However, the 42% drop from its 2023 high questions the uptrend continuation.&nbsp; 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh6.googleusercontent.com/Max4vrDThQa41yT9Ch14HgXSwVTEbvmgQRg5KUPnTrNBSO3Yc0m6g_DW_HyCpKwRd9rCM48C2g-09CNLaRylgcuOx4JHvaDFwRwPjjOwhBzUfMzRG8YSg8l4elta4Q4NCLkAyBfZfawARKPg8QM6bUE" alt=""> 
</figure> 
BCH coin price finds the technical indicators reflecting a potential reversal in the 1D chart. The Stochastic RSI and the daily RSI line project a recovery from the oversold zone with an uptick.&nbsp; 
<h2 id="a-closer-look-into-bch-price" data-name="a-closer-look-into-bch-price" class="wp-block-heading">A Closer Look Into BCH Price</h2> 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh4.googleusercontent.com/bCULodZI5YDlDdLOWpeO3Tfhv722zE3FDTrMNnlhN4PTdu4UAGmTkxm2kGk92EwjG_s8fM-DwyVTEVj4bKiJbUPkyBhvYNbnw9hQ6A4sJlIMStMO76nPwPilIuRYFIE9lrNfWJ0Tby2HkuimcrSPvJQ" alt=""> 
</figure> 
In the 4H chart, the BCH price action showcases an immensely bullish opportunity ready to boost an uptrend. Bitcoin Cash price action forms a double bottom pattern at the $180 base with a neckline at $190 during the week-long consolidation.&nbsp; 
Furthermore, the 4H RSI line displays a huge bullish divergence within the consolidation range, increasing the positive breakout chances.&nbsp; 
With the lower price rejections 4H chart and bullish divergence, the BCH price may find a reversal shortly. A reversal from the 61.80% Fibonacci level and the 200-day EMA can help BCH bounce above $200. The uptrend can potentially aim at the 38.20% Fibonacci level at $228. 
On the flip side, if Bitcoin Cash price crashes below $175, the BCH price to $150.

Bitcoin Cash (BCH) Price Analysis: More Than A Savior, Will 200-day EMA Prove A Great Buying Spot?

Table of Contents

CoinPedia News

Other articles published on Aug 23, 2023

EU Data Act’s ‘kill switch’ provision for smart contracts raises concerns

Unveiling Aptos Digital Asset Standard (DA)

Hong Kong’s scholar backs HKD stablecoin to take on USD and USDT

DOGE Will Explode to $1 – $5 After Possible X Integration: Analyst

SHIB Price Analysis: Shiba Inu Correction Likely Over With a 200% Jump On Horizon

Here’s Why Bitcoin is Unlikely to Hit $12k Anytime Soon

Join our free newsletter for daily crypto updates!