The Bitcoin Cash price is currently in an ongoing bullish trend. Trading view analyst Blockchain Roller Coaster believes that the price pattern may play out into a giant candle, with $540 as its target price. As of the 10th of February, the cryptocurrency has risen towards the $468.00 mark.
1-Day Bitcoin Cash Price Analysis (10th February)
On the 10th of February, the cryptocurrency traded between the $440.00 and $452.00 marks until 14:31 GMT, after which the coin immediately rose above the $460.00 mark from the $444.000 level. BCH gradually retreated to the $452.00 price level until the end of the day.
The price fell to $441.8364 US Dollars by 01:17 GMT, after which it has been under a continuous inclination to reach $465 US Dollars.
Bitcoin Cash: Predictive Analysis
The predictive analysis posted by Blockchain Roller Coaster seems to be coming true. The market seems to be bullish, and unlike the usual cases, the ascending wedges tend to break towards the upside.
The trading view analyst predicted the price to approach $540 – $555 as its upcoming price target. The entry is expected to be within the wedge. BCH is expected to play out into a big green candle with a target price of $543.86.
The currency has already risen above the $468.00 mark and is expected to approach $543, due to which the prediction currently seems to become true.
Featured Image by Juan Davila.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.