On the 9th of July, the Bitcoin Cash price line fell towards $236 after its trade above the $242 for the first half of the day. Vince Prince, the crypto analyst from TradingView, is of the opinion that Bitcoin Cash might see a rally towards $350.
1-Day Bitcoin Cash price analysis (9th July)
Bitcoin Cash Price Chart by Trading View
The coin began the trade near the $242 level, after which it gradually moved past the $244 mark. In the afternoon, BCH turned bearish and fell towards the $232 mark. At the time of writing, Bitcoin Cash was observed trading at $236.54 US Dollars.
What to expect from the Bitcoin Cash price?
Vince Prince is a TradingView analyst who believes that the BCHUSD pair will see an uptrend across the $350 mark as a result of a long trading pattern.
Bitcoin Cash Price Chart by Trading View
The analyst discussed that Bitcoin Cash is moving towards completing a meaningful wave count correction, which is why the BCHUSD pair may move towards an impulse to the upside. If this scenario comes into play and BCH breaks towards the upside of the descending triangle pattern, the cryptocurrency may gain huge bullish momentum.
For now, the cryptocurrency is expected to move towards the resistance of the triangle, after which it will return to the support to complete the wave count.
The analyst expects Bitcoin Cash to rally towards the $350 to $375 range after the breakout, which will be a big short zone for the trading pair. While the growth zone will be exponential, while the point of control can be observed in the chart above, where most of the volume of this trade is placed.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
