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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bch-price-analysis-will-this-pattern-push-bch-to-300/">BCH Price Analysis: Will This Pattern Push BCH TO $300?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
As the overall market recovers, with Bitcoin taking a bullish step in October, the altcoins are on a positive track. Even though the BCH price breached the $250 mark in the first two days of October with a remarkable growth of 10%.&nbsp;
Despite this, the overhead supply pressure at the psychological level caused a sharp correction in the Bitcoin Cash market price. However, with the sentiment turning bullish, expectations for the <a href="https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin Cash price prediction </a>in 2023 remain optimistic.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-1024x487.png" alt="" class="wp-image-235226" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/06135834/BCHUSD_2023-10-06_13-10-49.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Although there has been a recent correction, the overall trend of the BCH price suggests a bullish revival and a rise to higher levels. The bullish reversal from the buyers’ region at $180 and the 200-day EMA provided the Bitcoin Cash price with a springboard to regain momentum.
Moreover, the recent sharp correction to the $230 mark increases the chances of an inverted head and shoulder. Currently, the altcoin price trades at $231.50, with multiple Doji candle formations at the $230 support level.
With the underlying bullish sentiments averting downfall, the chances of BCH price taking a reversal to $250 are increasing. This recovery phase will complete the bullish pattern with the neckline at $250.
Technical indicators:
Coming to the technical indicators, the Directional Movement Index sustains a bullish point of view.&nbsp;
DMI indicator: The ADX line (black line) has shot up in recent times, indicating a strong momentum. Additionally, the DI line remains bullish, signaling further recovery.
EMA: The 50 and 200-day EMA maintain a positive alignment and continue to rise higher, which certifies the uptrend in motion.&nbsp;
<h2 class="wp-block-heading" id="h-will-bitcoin-cash-bch-price-touch-300">Will Bitcoin Cash (BCH) Price Touch $300?</h2>
With plans for a bullish reversal from $230, the inverted head and shoulder pattern presents a trend reversal opportunity in BCH price. However, if the price struggles to overcome the $250 mark, it may lead to a potential pullback to $228.&nbsp;
However, the inverted head and shoulder breakout will increase the likelihood of Bitcoin Cash price exceeding $300. With the potential to continue the rally above, the reversal from $250 or the $250 breakout will prove a crucial entry point for sideline buyers.&nbsp;
Considering the price breaks below the $228 post, the downtrend will plunge the prices to $200.

BCH Price Analysis: Will This Pattern Push BCH TO $300?

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