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Bitcoin Cash traders must watch out for these key levels
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Bitcoin Cash presented a symmetrical triangle on its chart and awaited a massive breakout. However, the alt maintained a neutral bias as per its RSI and MACD, so a swing was possible in either direction. At the time of writing, BCH traded at $594, up by 1.4% over the last 24 hours.
Source: BCH/USD, TradingView
A series of lower highs and higher lows post 26 October gave rise to a symmetrical triangle setup on BCH’s 4-hour timeframe. Based on the height of the triangle, BCH eyed a 15% breakout in either direction of the triangle. However, it’s worth noting that bears had a slight edge since the candles traded beneath their 4-hour 20 (red), 50 (yellow) and 200 (green) Simple Moving Average lines.
Should BCH weaken below $580, the price would be
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