Bitcoin Cash Price Analysis: 31 October

[sneakyboi]

Bitcoin Cash Price Analysis: 31 October

Bitcoin Cash witnessed a rise in its selling pressure as the digital asset’s bearishness hinted towards a downward price action for the short-term period.





Bitcoin Cash at press time had moved above its support at $253.921 and further maintained a price level above the trendline. However, down by a percent, the digital asset opened in the red zone during the day’s trading session.

With a bearish sentiment observed in the BCH market since 28 October, the Relative Strength Index also underlined a rise in selling pressure, as it turned south towards the 40 level.

Looking at the Bollinger bands, the volatility levels have remained unchanged for a couple of trading sessions now. However, any increase in it, given the bearish scenario, was more likely to result in a downward price action towards the immediate support level.



Learn more about the analysis here.

[ShadowCrypto]

The BCH Fork is 12 days away. ABC currency is quoted at $ 28 in the futures market. Personally I think it can reach $ 40 when it is available on the spot market (pure speculation). So, who wants free coins https://www.coinex.com/mobile/bch-fork?market=BTCUSD

[masudginanjar]

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It could easily go up to 40 USD because from 28 USD it only increased about 80%.

In cryptocurrency the price increase can be up to hundreds of percent and that's a lot, including coins that have little financial circulation.
Moreover, Bitcoin Cash has a lot of support and has many features, so reaching 40 USD might be easy.

[hair]

How do you predict the price of bitcoin cash after the hard fork? increase or decrease? I think bitcoin cash is a good investment

[ShadowCrypto]

Glad I moved to BTC but... BCH is stagnant
1 month price constant
BTC/ETH both saw 70% increase over last month
Crazy
I hope so but honestly don’t expect them to beat BTC for growth until BTC really starts beating its old high