Big Bitcoin Cash Investors are Regaining Confidence
- Anchorage’s custody service partnership with EDX Markets has boosted confidence among large investors.
- BCH whale activity has spiked, with 64 transactions recorded on August 23.
- Bitcoin Cash’s price has increased by over 3% since August 20.
- The number of confirmed transactions exceeding $100,000 reflects positive sentiment among whale investors.
- Bitcoin Cash’s price trends have become closely correlated to whale transactions.
RSI Signal Has Entered the Recovery Zone
- Bitcoin Cash has entered the recovery zone after the altcoin market crash.
- The daily RSI data shows BCH RSI above the critical 30 mark.
- Positive RSI suggests growing bullish momentum.
- Combined with whale buying pressure, retail investors may assume the worst is over for BCH price.
BCH Price Prediction: Possible Breakout Toward $250
- EDX Market’s custody service offering could encourage Wall Street clients to make larger bets on Bitcoin Cash.
- If overall crypto market sentiment improves, BCH price could reach the $250 range.
- The In/Out of Money Around Price data confirms a bullish outlook for BCH.
- If whales intensify buying pressure, BCH price could reclaim $250.
- If bears push past the buy wall, BCH could drop below $180.
Hot Take:
Bitcoin Cash’s partnership with Anchorage for custody services has instilled confidence among large investors and led to increased whale activity. The price of BCH has entered the recovery zone and may continue to rise, especially if overall market sentiment improves. The In/Out of Money Around Price data indicates minimal resistance for BCH until the $220 range, and a breakout toward $250 is possible. However, if bears dominate the market, BCH could drop below $180. The coming weeks will be crucial in determining the future trajectory of Bitcoin Cash.
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