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On the 7th of July, the Bitcoin Cash price line saw a decline and moved towards the $238 mark. The cryptocurrency analyst on TradingView Sivard is of the opinion that the BCHUSD pair will see an uptrend soon.
1-Day Bitcoin Cash price analysis (4th June)
Bitcoin Cash price chart by Trading View
The cryptocurrency gradually moved towards the $238 level on the 7th of July. At the time of writing, Bitcoin Cash was observed trading at a price of $238.63 US Dollars.
Trade orders for Bitcoin Cash
Quant Trader X is a TradingView analyst who placed the buy stop and stop-loss orders for the BCHUSD pair on the 1D chart.
Bitcoin Cash price chart by Trading View
The analyst believes that this is a simple strategy to get medium-term trends on the BCHUSD pair. The analyst placed the buy-stop order at $243.39 US Dollars, while the stop-loss order was placed at $225.52 US Dollars.
The stop-loss order is placed to buy or sell the asset once the price reaches a particular value, whereas the buy stop order is placed as an instruction to buy the asset when the price hits the mentioned value.
What to expect from the Bitcoin Cash price?
The Moving Average Convergence Divergence indicator has depicted a bullish divergence on the 1D charts for the BCHUSD pair.
Bitcoin Cash price chart by Trading View
Sivard, the TradingView analyst, is of the opinion that the BCHUSD pair will see an uptrend after it turns bullish, as seen in the technical analysis above.
The cryptocurrency is shown to trade above an ascending trendline traveling below the BCHUSD pair in red. The analyst seems positive about Bitcoin Cash, and they believe that BCH will see a bullish reaction very soon.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
Tags: BCHBCH pricebitcoin cash price
