The Bitcoin Cash price line rose across the $258 mark on the 10th of June. Mr Emrg is a TradingView analyst who expects BCHUSD to tread across the $400 level in a long trade, while the analyst also believes that the cryptocurrency will subsequently return towards the $250 level after the rise.
1-Day Bitcoin Cash price analysis (10th June)
The cryptocurrency stood below the $254 mark at the beginning of the 10th of June. The BCHUSD pair can be seen rallying across the $258 mark in the first quarter of the day, after which it fell towards the $251 mark. At the time of writing, the BCHUSD pair traded at $256.97 US Dollars.
Bitcoin Cash price movement; what’s next?
Vonzey is a TradingView analyst who has suggested that the Bitcoin Cash BCH is trading within a triangular trading pattern, after which the cryptocurrency should see an uptrend.
The analyst has depicted that the cryptocurrency is expected to climb upwards after the completion of the trading pattern or a breakout of the trading channel shown above.
Bitcoin Cash long trade idea
Mr Emrg, the TradingView analyst has explained that the BCHUSD pair will see a fall after experiencing a price jump.
The long term support line (blue) concluded before the expected trajectory that the trading pair is expected to take.
This shows that the rising support line will lead the cryptocurrency across the $400.00 mark, after which the price will return towards the $250 level. This is a long trade pattern for the BCHUSD pair and it is not expected to complete anytime 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.