On the 20th of August, the Bitcoin Cash price varied between the $288 and $296 price levels through the day’s trade. For most of the day, the price rested near the $292 to $294 range.
1-Day Bitcoin Cash price analysis
After beginning the 1-Day trade with a trading price of $292, the price line moved to trade in the middle of the $290 and $296 levels. For the day’s lowest, the price line fell to $288.97 US Dollars. At the time of writing, Bitcoin Cash traded at $300.60 US Dollars.
What to expect from the Bitcoin Cash price?
Mach Rich Trading is a Trading View analyst who believes that the BCH price will rise towards the $900 mark in a long-term swing setup.
Bitcoin Cash price chart by Trading View
The analyst highlighted a buy signal for the BCHUSD trading pair. The first entry-level for this trade was shown at $290, while the second entry-level was marked at $270. The stop-loss in this idea lies at the $250 mark.
If the idea comes into play, the cryptocurrency is expected to break several upside resistances. The first target price lies at $330, which is followed by $400, $470, $540, $610, $680, and $750. The analyst explained that the Perpetual Swaps Volume for Bitcoin Cash reached a 7-Day high lately, while the on-chain transactions have also increased.
The analyst set up the swing setup on the 4-Day chart for the BCHUSD trading pair. Currently, BCH is said to be in a buying zone. If this trade completes, the BCH price will have risen past the $750 level.
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.