Bitcoin Cash Price Stays Green, but a Real 15% Upside Needs a Breakout
Share:
Key Insights:
- Bitcoin Cash price stays stronger than the market, but the chart still shows a clear warning.
- A clean move above $539 is needed before any real upside, including the possible 15% rise.
- Weak RSI signals and falling support levels show BCH can drop again if market pressure increases.
Bitcoin Cash is one of the few large coins holding steady amid the broader crypto market crash today. The total market is down about 5% today, but Bitcoin Cash price was still showing green numbers at press time, up over 1%.
This often excites traders because it makes the coin appear stronger than others. But when we look closely at the 12-hour chart, the picture is not as strong as the simple price line suggests.
Some bearish signs are emerging, hinting at a looming price dip. Because of this, the Bitcoin Cash price still needs to prove real strength before something bullish can happen. Right now, only the hidden bearish signs take center stage.
Bitcoin Cash Price Still Shows Warning Signs
Bitcoin Cash tried to rise above $539 during the last day. It touched that level, but the price could not hold it. Sellers pushed it back down.
A clean move above $539 matters because this line stopped the BCH price earlier. When a level acts like a wall more than once, traders wait for a strong close above it before trusting a new up-move.
If BCH price can close above $539, it may move next toward $568, then $600, and then $616. The move to $616 is almost 15% higher than where Bitcoin Cash trades now.
That looks like a possibility per the price chart, but might not be immediate. More so, as the RSI sends a different message.
RSI, which means Relative Strength Index, shows if a coin has moved too fast. On the 12-hour chart, the price made equal or higher highs, but the RSI made lower highs.
This pattern is called a bearish divergence. In simple words, it means the price is rising, but the strength behind the rise is falling. When this happens, the price often slows down or drops later because buyers are not strong enough to keep pushing.
The lower side of the chart also shows risk. If Bitcoin Cash price falls under $521 and then under $507, the next area sits near $493. This area held the price before.
But if the market stays weak, the drop can even continue toward $446. When a coin is moving inside a weak market, the support lines matter more because traders often sell faster when fear grows.
Why Some Bullish BCH Price Charts Do Not Match the Real Trend?
Some traders online have shown very bullish drawings for Bitcoin Cash. A few people posted a “bull flag” chart, but this flag shape is not reliable.
In a real bull flag, the flag part must stay smaller than the pole and must not have too many candles. In the shared charts, the flag is too long and wider than the pole.
When this happens, it stops being a flag and becomes normal sideways movement. Because of this, the bullish drawing does not reflect the real 12-hour chart.
Other analysts pointed to a long-term cup-and-handle shape. A cup and handle usually appears on a very large time frame and often needs months to play out.
This shape can support a long-term positive view for Bitcoin Cash price. But it does not change the short-term weakness on the chart today.
Traders looking at the next few days must watch the 12-hour signals more than the multi-year shapes.
What the Bitcoin Cash Price Must Do Next?
Right now, Bitcoin Cash price looks stronger than many top coins because it is still green. But the price has not crossed the level that decides the next strong leg, if and when it arrives.
The $539 line is the key level for now. A steady close above $539 can open the path to $568, $600, and $616.
If that happens, buyers may gain confidence and try to push the price even higher. But if Bitcoin Cash fails to stay above $539 again, the risk moves back to the lower levels.
A drop under $521 or $507 can push BCH price toward $493. And if the wider market keeps falling, the price can even reach $446.
The summary is simple. Bitcoin Cash price is holding up better than the market today. But a real 15% upside still looks uncertain unless buyers take control above the key resistance. The reversal setup stays active until that happens.
The post Bitcoin Cash Price Stays Green, but a Real 15% Upside Needs a Breakout appeared first on The Coin Republic.
In This News
Share:
In This News
Share:
Read More
The ETF Wave Continues! ETF Analyst Announces: The First US ETF for This Altcoin Will Arrive This Week!
Crypto Market Crash Erases Fed Rate Cut-Driven Bitcoin, ETH, XRP, SOL, ZEC Gains
Bitcoin Cash Price Stays Green, but a Real 15% Upside Needs a Breakout
Share:
Key Insights:
- Bitcoin Cash price stays stronger than the market, but the chart still shows a clear warning.
- A clean move above $539 is needed before any real upside, including the possible 15% rise.
- Weak RSI signals and falling support levels show BCH can drop again if market pressure increases.
Bitcoin Cash is one of the few large coins holding steady amid the broader crypto market crash today. The total market is down about 5% today, but Bitcoin Cash price was still showing green numbers at press time, up over 1%.
This often excites traders because it makes the coin appear stronger than others. But when we look closely at the 12-hour chart, the picture is not as strong as the simple price line suggests.
Some bearish signs are emerging, hinting at a looming price dip. Because of this, the Bitcoin Cash price still needs to prove real strength before something bullish can happen. Right now, only the hidden bearish signs take center stage.
Bitcoin Cash Price Still Shows Warning Signs
Bitcoin Cash tried to rise above $539 during the last day. It touched that level, but the price could not hold it. Sellers pushed it back down.
A clean move above $539 matters because this line stopped the BCH price earlier. When a level acts like a wall more than once, traders wait for a strong close above it before trusting a new up-move.
If BCH price can close above $539, it may move next toward $568, then $600, and then $616. The move to $616 is almost 15% higher than where Bitcoin Cash trades now.
That looks like a possibility per the price chart, but might not be immediate. More so, as the RSI sends a different message.
RSI, which means Relative Strength Index, shows if a coin has moved too fast. On the 12-hour chart, the price made equal or higher highs, but the RSI made lower highs.
This pattern is called a bearish divergence. In simple words, it means the price is rising, but the strength behind the rise is falling. When this happens, the price often slows down or drops later because buyers are not strong enough to keep pushing.
The lower side of the chart also shows risk. If Bitcoin Cash price falls under $521 and then under $507, the next area sits near $493. This area held the price before.
But if the market stays weak, the drop can even continue toward $446. When a coin is moving inside a weak market, the support lines matter more because traders often sell faster when fear grows.
Why Some Bullish BCH Price Charts Do Not Match the Real Trend?
Some traders online have shown very bullish drawings for Bitcoin Cash. A few people posted a “bull flag” chart, but this flag shape is not reliable.
In a real bull flag, the flag part must stay smaller than the pole and must not have too many candles. In the shared charts, the flag is too long and wider than the pole.
When this happens, it stops being a flag and becomes normal sideways movement. Because of this, the bullish drawing does not reflect the real 12-hour chart.
Other analysts pointed to a long-term cup-and-handle shape. A cup and handle usually appears on a very large time frame and often needs months to play out.
This shape can support a long-term positive view for Bitcoin Cash price. But it does not change the short-term weakness on the chart today.
Traders looking at the next few days must watch the 12-hour signals more than the multi-year shapes.
What the Bitcoin Cash Price Must Do Next?
Right now, Bitcoin Cash price looks stronger than many top coins because it is still green. But the price has not crossed the level that decides the next strong leg, if and when it arrives.
The $539 line is the key level for now. A steady close above $539 can open the path to $568, $600, and $616.
If that happens, buyers may gain confidence and try to push the price even higher. But if Bitcoin Cash fails to stay above $539 again, the risk moves back to the lower levels.
A drop under $521 or $507 can push BCH price toward $493. And if the wider market keeps falling, the price can even reach $446.
The summary is simple. Bitcoin Cash price is holding up better than the market today. But a real 15% upside still looks uncertain unless buyers take control above the key resistance. The reversal setup stays active until that happens.
The post Bitcoin Cash Price Stays Green, but a Real 15% Upside Needs a Breakout appeared first on The Coin Republic.
In This News
Share:
In This News
Share:
Read More
The ETF Wave Continues! ETF Analyst Announces: The First US ETF for This Altcoin Will Arrive This Week!