BCH Technical Analysis: Golden Opportunity For BCH Holders

BCH prices exit the long-coming with the resistance trendline breakout teasing a 30% jump to the overhead resistance of $175. The BCH prices fail to give a bullish breakout of an inverted head and shoulder, but the recent reversal breaks the resistance trendline and the $130 mark. Moreover, the intraday trading volume spike supports the possibility of an uptrend to the next overhead resistance of $175. Hence the breakout entry is a golden opportunity for BCH holders and sideline buyers. Key Points: The BCH price action displays a golden opportunity with the resistance trendline breakout. The Breakout rally shows the potential to reach the overhead resistance of $175. The intraday trading volume in Bitcoin Cash is $543 million. Source – TradingView BCH Technical Analysis The BCH prices failed to exit the resistance trendline with an inverted head and shoulder resulting in a bearish turnaround on 26th August. However, the recent 17% recovery results in the bullish breakout of the resistance trendline and the $130 mark. Moreover, the price action displays a triple white soldiers pattern forming with the spike in the intraday trading volume. Hence the uptrend possibility of exceeding the $150 mark increases significantly. Therefore, the sideline buyers can grab onto this opportunity of a breakout trade to ride the upcoming bullish trend. Additionally, the uptrend shows potential to reach the next resistance level of the $175 mark ...