Bitcoin Cash long-term Price Analysis: 03 December

[sneakyboi]

Bitcoin Cash long-term Price Analysis: 03 December

Bitcoin Cash, like EOS, has enjoyed a lousy YTD performance in the year 2020. In fact, BCH was up by only 33% at press time, while ADA was up 10x with respect to BCH. With a press time trading price of $294, BCH seemed to be showing a small promise that could be leveraged in the upcoming weeks.

Bitcoin Cash, still in the top 10 ranks, was doing well on the price charts, however. The opportunity for Bitcoin Cash can potentially push it up to $486, and perhaps, $500, a level not seen since June 2019.



Bitcoin Cash’s price seemed to have formed an arc pattern, one where the price started out by dropping, hitting a bottom, and then slowly surging higher on the charts. All along the way, there was an arc that was supporting the price from going any lower. The price has been in this formation for almost 2 years now. Since this is a long-term pattern, there will be variations like the surge from January to February 2020, followed by a complete retracement in March.

For now, considering the pre-bull market we are in, it seems like the price will hold above this arc and push higher. Hence, longing would be the best way to go about with BCH.

Note: This is not a financial advice or whatsoever, DYOR and validate it.

Learn more about the analysis here.

[Cinno3]

The old cryptocurrencies are valuable in the market. However, some new cryptocurrencies are taking the place of old cryptocurrencies. However, the condition of high level coins in the market is good. One of them is Bitcoin Cash.