The Bitcoin Cash price kept striding towards the $226 mark on the 15th of July. Project Syndicate, the crypto analyst from TradingView, expects the BCHUSD pair to pump towards the $260 mark.
1-Day Bitcoin Cash price analysis
At the beginning of the 15th of July, the cryptocurrency’s price was observed near the $231 mark, and it experienced an abrupt drop towards the $228 level. The BCHUSD pair can be seen trading in jugged moves, which led towards the $226 mark as the day’s trade proceeded towards its end. At the time of writing, Bitcoin Cash traded at $226.74 US Dollars.
What to expect from the Bitcoin Cash price?
Project Syndicate is a TradingView analyst who discussed the BCHUSD pair’s trend on the 8-Hour chart.
Bitcoin Cash price chart by Trading View
The analyst suggests the traders that they buy low, near the $207 to $209 region. Currently, BCH appears to be under a downtrend, while the analyst expects it to show a price reversal near the $207 and $209 price levels.
Project Syndicate discussed this trading pattern as a strong pattern setting up for a pump. A speculative XABCD pattern was highlighted by the trading pair in their chart that is shown above. The target price has been placed with over 20% gains.
For this trade, the stop-loss order is placed at $200 US Dollars, while the target price is at $260 US Dollars. If this idea comes into play, Bitcoin Cash is expected to see a 25% increase in its price.
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.