The Bitcoin Cash price line sees bulls towards the $342 mark on the 05th of March. The cryptocurrency scored a day’s trading range of $335.250000 — $340.14000. Trading view analyst darkpiggie suggests that the cryptocurrency is in a big ascending triangle and the price may even propel across the $1000 mark.
1-Day Bitcoin Cash Price Analysis (05th March)
The cryptocurrency began the day’s trade at the $317.50 mark. The coin immediately saw a bullish movement after entering the day, and it shot up across the $335.00 mark by 06:00 GMT. The cryptocurrency saw further rise towards the $342.50 mark in the afternoon when the Binance Coin reached a day’s high of $324.94 US Dollars. The coin kept trade near the $340 level after seeing a brief fall towards the $335 mark. The cryptocurrency ended the day’s trade at the $339 mark.
Bitcoin Cash: predictive analysis
darkpiggie is of the opinion that if the ongoing price reversal occurs and breaks above the $345 mark, where the upper resistance of the ascending triangle lies, then the cryptocurrency will see to a very bullish rise.
The crypto analyst suggests that the halving will occur after 34 days and there is a bullish divergence on the MACD and the RSI, and that if the price breaks above the $345 mark, the ascending triangle may even take the price across the $1000 mark.
Featured Image by Chris Biron.
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.