Lokesh Gupta
01-04-2024
#Bitcoin Cash ($BCH) price surged above $700 on March 31, reaching its highest point since November 2021.
Over the past five days, $BCH has experienced a remarkable 160% increase, driven by anticipation of the upcoming Bitcoin Cash Halving event scheduled for April 4, 2024.
BCH initiated a strong upward trend, breaking through crucial resistance levels at $500 and $530 against the US Dollar.
The breakout from the trading range signals a bullish flag pattern breakout rally in Bitcoin Cash, accompanied by significant engulfing candles.
Within just two bullish weeks, BCH surpassed the 23.60% and 38.20% Fibonacci retracement levels.
Currently, BCH is trading at $680, showing indecision on Monday with a Doji formation.
The upward momentum aims to challenge the 50% Fibonacci retracement level at $765, with a high probability of surpassing $700.
BCH/USD could experience further upward acceleration upon clearing the $800 level.
According to Coingabbar Prediction, ##Bitcoin Cash prediction 2030 suggests it will maintain a value of $1500, while Bitcoin Cash prediction 2040 anticipates a rise to $3000.
KEY LEVELS :
RESISTANCE LEVEL : $700-$765
SUPPORT LEVEL : $600-$530
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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