Bitcoin Cash consolidates gains above $210 – Should you long it?
A likely BCH short-term range extension ahead of the FOMC Meeting could provide bulls with extra gains. ...
- BCH has consolidated above $210 since 15 September after faltering near the $220-mark.
- The crypto-market experienced a recovery in the third week of September, with BCH gaining 20%.
- The price of BCH has been oscillating between $220 and $210 on the 4-hour chart.
- The Chaikin Money Flow (CMFI) has been below zero, indicating stagnant capital inflows.
- The Relative Strength Index (RSI) retreated from the overbought zone but showed slight momentum.
- If the range extends, BCH could target the range-high near $220.7 for additional gains.
- Open Interest rates for BCH have improved, indicating bullish bias.
- The $210-level is a crucial short-term support for BCH.
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The sentiment of the article is neutral, providing analysis and information without expressing a positive or negative bias.
You May Ask
Will the range for BCH extend for bulls to exploit?What is the significance of the Chaikin Money Flow (CMFI) and Relative Strength Index (RSI) for BCH?What is the potential price target for BCH if the range extends?How have Open Interest rates for BCH changed recently?What is the importance of the $210-level for BCH's short-term support?