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Bitcoin Cash ready for an extended recovery but…
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While the last 8 days have been rough for Bitcoin Cash, its streak of higher lows remained intact. Following a 26% decline between 11-18 November, a bullish crossover along the MACD and an oversold RSI underpinned BCH’s recovery.
The last couple of days have accounted for an 8% surge and more upside awaits BCH over the near-term. At the time of writing, BCH traded at $581.7, up by 3.2% over the last 24 hours.
Source: BCH/USD, TradingView
Bitcoin Cash has respected the boundaries of a lower sloping trendline which has extended all the way from July lows. After a third point of contact at $542-support, BCH lined up six green candles, spaced out by a solitary doji candlestick (now shown) which failed to halt a bullish comeback.
With momentum now
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