empty
30.11.2023 12:52 PM
Bitcoin Cash at crossroads

Bitcoin Cash continues to move sideways in the short term and it seems undecided as the price of Bitcoin moves somehow sideways as well. The altcoin is located at 222.35 at the time of writing.

BCH/USD could extend its sideways movement as only a sharp move in BTC/USD could bring us a clear direction on this market.

BCH/USD Changed Little!

This image is no longer relevant

Bitcoin Cash came back down after retesting the minor downtrend line and now it stands right above the lower median line (lml).

You already know from my previous analysis that the altcoin could develop an upwards movement as long as it stays above the lower median line (lml). The downtrend line represents a key upside obstacle, while the former low of 219.36 stands as a critical support.

Bitcoin Cash Forecast!

Dropping below 219.36 activates more declines and is seen as a selling opportunity.

A valid breakout above 224.57 and through the downtrend line should announce a new leg higher.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on September 9

Bitcoin continues to demonstrate strength. After a minor correction during today's Asian trading session down to the $110,000 area, it is now trading at $112,500, indicating ongoing demand. This

Miroslaw Bawulski 08:24 2025-09-09 UTC+2

Bitcoin Forecast for September 9, 2025

Bitcoin (BTC) Bitcoin twice managed to break daily candles above the resistance level of 111,904 (yesterday and today), but failed to hold above it. The Marlin oscillator also was unable

Laurie Bailey 05:12 2025-09-09 UTC+2

El Salvador marks four years since adopting BTC in its financial system

As Bitcoin continues to search for direction, El Salvador has added another 21 BTC to its holdings, worth roughly $2.3 million. The purchase commemorates the fourth anniversary of the country's

Jakub Novak 11:00 2025-09-08 UTC+2

Trading Recommendations for the Cryptocurrency Market on September 8

It is evident that even after the weak US labor market data—which points to a possible rate cut by the Federal Reserve—there was no sharp or explosive demand for Bitcoin

Miroslaw Bawulski 09:02 2025-09-08 UTC+2

Trump concerned about gains from World Liberty Financial

Recently, the market saw the launch of the World Liberty Financial project, the creation of which is directly tied to the family of US President Donald Trump. Everything seemed fine

Jakub Novak 17:54 2025-09-05 UTC+2

Another green light for crypto market

Yesterday, news emerged that the US Securities and Exchange Commission (SEC) had unveiled its regulatory agenda, which may include extensive proposals to revise rules governing cryptocurrencies and to reduce regulations

Jakub Novak 11:39 2025-09-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on September 5

Yesterday, Bitcoin experienced a fairly strong correction down to around $109,400, but during today's Asian session, demand for the world's first cryptocurrency surged, allowing it to jump up to $111,600

Miroslaw Bawulski 09:14 2025-09-05 UTC+2

Bitcoin Forecast for September 5, 2025

Bitcoin (BTC) After a brief move above the 111,904 level on September 3, the price returned below this mark and consolidated there. The Marlin oscillator has remained in negative territory

Laurie Bailey 05:19 2025-09-05 UTC+2

European cryptocurrency legislation needs further refinement

While Bitcoin and Ethereum remain undecided about their next direction, European Central Bank President Christine Lagarde stated that the European Union should impose guarantee requirements on stablecoin issuers based outside

Jakub Novak 15:36 2025-09-04 UTC+2

Trading tips for crypto market on September 4 (North American session)

Bitcoin slid to $110,400 and is taking a breather. Ethereum is also slightly correcting but its bullish potential remains intact Meanwhile, an interesting report from QCP Capital caught

Miroslaw Bawulski 15:34 2025-09-04 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.