BCH has been seeing an upward continuation for the last 10 hours. It is now trading at the $439 level, an increment of 6.8% during the last 24 hours. It hit the highest of $443 during this time and has been seeing a volume trade of upwards of 9 million. Its market capitalization at the time of writing is $8,078,423,537 and the trend is in line with the wedge reversal pattern of “wedge.” Last Week for BCH The entire week of January 29, 2021, onwards has been seeing it touching new highs. The 200-day SMA has been showing an upward trend and the 12-hour SMA was in the highs. The prices moved beyond the signal lines and are showing upwards, putting pressure on the buyers with higher prices. The price only touched the lowest of $369.89 on January 27 and moved to $385 on January 28, 2021. It touched another stupendous high on January 29 at $431.24 and then fell again to $394.5 on January 30. It again started an upward rally to $415 during the latter half of January 30 and then $417.75 during the rest of the day. January 31 saw a flat trade day with maximum levels of $411 and $391. The price moved to $431.24 on February 1 and then fell to $406 on February 2, 2021. Since yesterday it has only been on an upward trajectory. https://ift.tt/3czTooS What to Expect from Today and Tomorrow With the strength of the RSI indicator showing an increase in buying interest. Although a rebound from the upper “wedge” reversal is seen and this could also see a testing of the first support level of $385. A breakdown below this to $325 levels could see a further fall in the prices to potential second level support of $275. If however, the current trend continues and the price move beyond $475 levels, the resistance levels could be broken further. Once this happens, expect a confirmation of the increment pattern in BCH. Watch out for the levels of $325 and $475.
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