Bitcoin Cash (BCH) has been experiencing a bullish trend, although it has faced resistance at the $388.49 level. The recent price action has led to a drop in market capitalization and trading volume. However, a Golden Cross pattern on the 4-hour chart suggests a potential upward trend. The MACD and Chaikin Money Flow indicators are showing signs of slowing momentum and weakening buying pressure. On the daily chart, BCH is displaying a falling wedge pattern, indicating a possible bullish reversal. The RSI is in a neutral to slightly bullish position. Support levels for BCH are around $365 and $360, with resistance at $390. A decisive break above $390 could lead to a test of the $400 mark. However, Bitcoin Cash Open Interest has decreased, suggesting decreased trader participation and hesitation at current levels.
Expert Says This Time Will Not Be Different After Massive Bitcoin Rallies in Last Three US Elections