A Top Trader Sees a Bullish Signal in Bitcoin Cash
A prominent crypto trader believes that Bitcoin Cash (BCH) is showing signs of a bullish breakout. According to the trader, the daily chart of BCH indicates a potential upward move. The price action resembles an ascending triangle pattern, with higher lows and the same highs. However, the trader warns that if BCH falls below $200 or $180, the bullish thesis will be invalidated. The trader also highlights that the trajectory of Bitcoin will heavily influence altcoins like Bitcoin Cash. Currently, BCH is trading at $236, representing a 14% increase since Monday.
Hot Take: Trader Optimistic About Bitcoin Cash
A well-known crypto trader is optimistic about Bitcoin Cash’s future performance. Despite its dependency on Bitcoin’s movement, the trader sees potential for a breakout in BCH. With higher lows and a stable price range, BCH could experience upward momentum. However, if the price falls below certain levels, this bullish scenario would be invalidated. Nevertheless, the trader remains hopeful and sees positive prospects for this blue-chip altcoin.
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