Bitcoin Cash (BCH) Shows Bullish Signs After Key Price Rebound
Bitcoin Cash (BCH) is showing bullish signs after bouncing from a critical support level, indicating renewed trader optimism. Key facts include:
- BCH has reversed from a long-term ascending support trendline, maintaining above the $309 level, which historically supports bullish movements.
- This rebound suggests increased buyer confidence and potential for further upward momentum.
- UniChartz notes BCH's structure remains sound within a descending wedge pattern, with continued support at the $309 mark favoring buyers.
- Potential price targets are set for the $480 and $500 resistance zone, with mid-term gains possible toward $600 and $1,200.
For sustainability, BCH requires ongoing buying pressure and strong volume confirmation. If it drops below the $309 support, the bullish outlook weakens, potentially leading to lower levels around $211 and $85.
