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  • Bitcoin Cash Price Analysis: Resistance at $ 711, the market is very volatile

Bitcoin Cash Price Analysis: Resistance at $ 711, the market is very volatile

 تاریخ انتشار :
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  Bitcoin
  • The market will move at a steady pace for the foreseeable future
  • The strongest resistance is at $ 711
  • The strongest support is $ 530

In the Bitcoin Cash price analysis on November 21, 2021, we saw a cup and handle movement in the chart where the resistance was $ 584. This support remained stable at around $ 570 before the sudden fall on November 22, 2021.

Bitcoin Cash Price Analysis: 4-Hour Chart

Bitcoin Cash Price Analysis Chart concluded that volatility has decreased, indicating that prices are less prone to change. The upper limit of the Bollinger Band is at $ 587 which is resistance, while the lower limit of the Bollinger Band is at $ 559 which is also known as support. In addition, we saw that the moving average curve crosses the price, which indicates a downtrend.

Bitcoin Cash Price Analysis: Resistance at $ 711, highly volatile market 1
Source of 4-hour BCH / USD chart: Trading view

In this Bitcoin Cash price analysis, we have seen that the Relative Strength Index (RSI) is at 41, which indicates that this asset is not at any extreme point and does not show any signal. As volatility decreases, significant price differences are unlikely. The bull and the bear both do their best, but in vain. Neither of them still dominates the market.

BCH / USD overnight price chart analysis: Fluctuations are increasing

Bitcoin Cash Price Analysis The overnight price chart showed a significant increase in asset volatility, meaning that the market is soon on its way to volatile change. The analysis shows that the upper limit of the Bollinger Bands is at $ 711, which is called resistance, while the lower limit is at $ 530, which is called support. The moving average curve crosses the price, which indicates an uptrend and indicates that cows dominate the digital currency market.

Bitcoin Cash Price Analysis: Resistance at $ 711, highly volatile market 2
Source of 1-day chart BCH / USD: Trading view

Bitcoin Cache analysis shows the Relative Strength Index (RSI) at 41. Since the nature of this market is now quite susceptible to variable changes, it either rises exceptionally or falls completely.

Bitcoin Cash Price Analysis: Conclusion

At the end of the Bitcoin Cash price analysis, we saw a bullish market trend with high volatility, indicating that the change will be sharp at any time. The value of the asset either reaches $ 750 resistance or falls below $ 530 support. Another effect that such high fluctuations may have is resistance and support fluctuations. If the resistance is volatile, the price will skyrocket, but if the support is volatile, the price will fall sharply.

The volatile resistance will be in favor of the cows because the trend in the market will be bullish, while the volatility in support will be in favor of the bears because the market is following a downtrend. With that said, it is impossible to say who will rule the market, the cows or the bears, because the unpredictability of the market is already at its peak. Only time can tell.

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