Bitcoin Cash price falls to 226, reversal to 260 ahead?

Bitcoin Cash price observes fall to pump towards up ahead

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

Bitcoin Cash price chart 1 - 15 July

Bitcoin Cash price chart by Trading View

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 2 - 15 July

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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