• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback

After Surging Over 5%, Analysts Believe Bitcoin Cash (BCH) Has Further Room to Pump

Cole Petersen by Cole Petersen
4 years ago
in Bitcoin Cash, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Although the crypto markets entered the weekend on a less-than-positive note, with Bitcoin retreating from highs of nearly $5,900 to lows of roughly $5,650, many cryptocurrencies have been able to climb higher today, with Bitcoin Cash (BCH) leading the markets.

Analysts now believe that BCH could be a better short-term play than Bitcoin for traders, as the crypto has “more room to pump” in the near-future.

Bitcoin Cash (BCH) Surges Over 5%

At the time of writing, Bitcoin Cash is trading up 5.3% at its current price of $293.51, up from its daily lows of $275.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Over a seven-day period, BCH is significantly up from its lows of $230, which were set last Monday, and is only down slightly from its highs of $310 which were set on Friday.

The recent market surge has proven to be very positive for Bitcoin Cash, as it surged from lows of $170 in early-April to highs of $336, from which point it settled slightly lower and has traded sideways since.

This recent price action does appear to be emblematic of the formation of a new trading range, with strong support existing around $240, and resistance in the lower-$300 region.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Keshav Narla, a cryptocurrency analyst on Twitter, shared his thoughts on the crypto’s current price action in a recent tweet, explaining that he believes that Bitcoin Cash is growing increasingly bullish, with another upwards surge potentially taking it as high as $340 before it incurs any significant selling pressure.

“$BCH continuing the bullish bias, we appear to be in 5th wave (green) and done with the yellow Subwaves 1 & (2?). We also have a golden cross where 50DMA goes above 200DMA, which is bullish. I expect some resistance at 300DMA ($340),” he noted.

$BCH continuing the bullish bias, we appear to be in 5th wave (green) and done with the yellow Subwaves 1 & (2?). We also have a golden cross where 50DMA goes above 200DMA, which is bullish. I expect some resistance at 300DMA ($340)
Play safe in the 5th wave. All the best! pic.twitter.com/z9PGhm7LQ1

— Keshav R Narla (@imkeshav) May 5, 2019

UB, another popular crypto trader on Twitter, recently explained that he is closely watching to see whether or not BCH/BTC is able to reclaim support at 0.0525, which is slightly higher than its current price of 0.0508.

“$BCH – I entered into a long position a few hours ago. I’d like to see .0525 reclaimed as support on the next test,” he said.

$BCH – I entered into a long position a few hours ago.

I'd like to see .0525 reclaimed as support on the next test. #BCH pic.twitter.com/M5Ji1K8ofj

— UB (@CryptoUB) May 3, 2019

BCH Could Be A More Profitable Trade Than Bitcoin in Near-Future

Because Bitcoin is currently experiencing some relative levels of stability within the $5,000 region and doesn’t appear to have enough buying pressure to propel it above $6,000, analysts now believe that Bitcoin Cash could be a more profitable trade in the near-future.

Another celebrated analyst, The Crypto Dog, explained this sentiment in a recent tweet, noting that he believes BCH has “a lot more room to pump” than BTC does.

“In case you’re wondering why I’d rather be in $BCH than $BTC right now. Not saying for sure we go straight up (if I knew that I’d just all in no stops), but if we do, Roger’s coin has a lot more room to pump,” he said.

In case you're wondering why I'd rather be in $BCH than $BTC right now…

Not saying for sure we go straight up (if I knew that I'd just all in no stops), but if we do, Roger's coin has a lot more room to pump. pic.twitter.com/TefroeEGRX

— The Crypto Dog? (@TheCryptoDog) May 5, 2019

As the weekend wraps up and the fresh trading week begins, traders and analysts alike will likely garner greater insight into whether Bitcoin Cash is able to continue surging past its resistance in the lower-$300 region.

Featured image from Shutterstock.
Tags: BCHBitcoin Cashcrypto
Tweet123Share283ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Ripple XRP

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

8 hours ago
Cardano (ADA)

Cardano Adds 50,000 New Wallets As ADA Market Cap Surges

12 hours ago
ethereum

Ethereum Hovers Above $1,600, What’s The Next Move?

15 hours ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

16 hours ago
Polkadot

Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceiling?

16 hours ago
cardano

Cardano (ADA) Continues To Shine With 15% Gains In the Last Week

17 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Binance Coin (BNB) And Orbeon Protocol (ORBN) Speculated To Make Huge Gains In 2023

January 27, 2023

2023’s Hottest NFT Collections Include Moonbirds, Azuki, and Ganja Guruz

January 27, 2023

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.