Bitcoin Cash [BCH/USD] Technical Analysis: The bulls return right before the fork
At press time, the BCH prices were at $613.85 with a market cap of $10.70 billion. The upcoming fork has caused a lot of stir and partitioned the community as big players like Binance have supported the fork. A major of the trade volume for BCH was contributed by OKEx [13.08%].
The altcoins have been facing sideways market ever since Bitcoin came tumbling down. The same can be said of Bitcoin Cash, with an uptrend that spans over from $423.89 to $606.73, with a tiny break happening in the middle. The one-hour chart seems to be going up without a downtrend in sight.
Bollinger Bands are indicating a rather bearish move since the prices have started to slump and have gone below the EMA. The bands are squeezed after a recent expansion indicating that the volatility in the market has reduced.
The Chaikin Money Flow can be seen above the zero line indicating an increase in buy momentum and hence the entry of money into the market.
The RSI has been…
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