{"id":37737,"date":"2019-03-21T13:15:41","date_gmt":"2019-03-21T12:15:41","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=37737"},"modified":"2020-02-19T02:01:21","modified_gmt":"2020-02-19T00:01:21","slug":"bitcoin-cash-bch-bulls-must-first-clear-170-before-rallying-to-230","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/bitcoin-cash-bch-bulls-must-first-clear-170-before-rallying-to-230\/","title":{"rendered":"Bitcoin Cash (BCH) Bulls Must First Clear $170 Before Rallying to $230"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Latest Bitcoin Cash News<\/h2>\n\n\n\n<p>It\u2019s got to be pretty exciting to be a Bitcoin Cash holder. Hours after Avnet announced their partnership with BitPay, one of the world\u2019s largest crypto processor, allowing their clients to settle with Bitcoin Cash and Bitcoin, Vardex Suisse\u2014the Switzerland based blockchain and Point of Sale operator which is also a regulated firm which provides access to digital assets including Bitcoin and Litecoin in all of their ATMs, now supports Bitcoin Cash. <\/p>\n\n\n\n<p><strong><em>Read:<\/em><\/strong><em> <a href=\"https:\/\/ethereumworldnews.com\/coinmarketcap-index-bloomberg-nasdaq-2019\/\">CoinMarketCap Indices Listed\non Bloomberg, Nasdaq<\/a><\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><em>\u201cWhen a customer elects to make a purchase with Bitcoin (BTC) or Bitcoin Cash (BCH), Avnet will work with BitPay to verify the funds, process the order and complete the transaction. Avnet and BitPay will also have the ability to manage and process cryptocurrency requests outside the US on a country-by-country basis\u201d<\/em><\/p><\/blockquote>\n\n\n\n<p><a href=\"https:\/\/www.vaerdex.ch\/\" rel=\"nofollow noopener\" target=\"_blank\">Vardex Suisse<\/a> has been working\nindependently since 2017 and with an express objective of meeting customers\u2019\ndemand through a reliable and easily accessible network, the provider is a\nmember of the Financial Services Standards Association (VQF) as well as Crypto\nValley Train Community. <\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/vaerdex\/status\/1107971542099603456\n<\/div><\/figure>\n\n\n\n<p>Because they are keen on making crypto purchases as seamless\nas possible, Vardex has partnered with Post von Liechtenstein and taking advantage\nof favorable regulations in the country that has seen crypto businesses\nflourish. Interested users can buy Bitcoin Cash using fiat, wallets or credit\ncards.<\/p>\n\n\n\n<p><strong><em>Also Read:<\/em><\/strong><em> <a href=\"https:\/\/ethereumworldnews.com\/chicago-mayor-backs-crypto-blockchain-bitcoin\/\">Crypto Scores Big-Name Backer\nin Chicago\u2019s Mayor: \u201cAlternative Currencies Will Happen\u201d<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">BCH\/USD Price Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"51\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-BCH-Price-Change-1024x51.png\" alt=\"Bitcoin Cash\" class=\"wp-image-37740\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-BCH-Price-Change-1024x51.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-BCH-Price-Change-300x15.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-BCH-Price-Change.png 1167w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Bitcoin Cash (BCH) is a top performer in the top 10 adding\n24 percent in the last week. Even though BCH buyers are in charge, there is\nstrong sell pressure at $160, our immediate resistance level. <\/p>\n\n\n\n<p>All the same, bulls are firm and have satisfactorily reversed losses of Feb 24, an important reference bar in the last month. Despite our optimism and expectation of higher highs towards $230, our ultimate target marking Dec 2018 highs, we shall adopt a wait and see approach aware that failure of buyers to build momentum and close above $170 is bearish for BCH.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-Daily-Chart-Mar-21-1024x576.png\" alt=\"Bitcoin Cash\" class=\"wp-image-37738\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-Daily-Chart-Mar-21-1024x576.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-Daily-Chart-Mar-21-300x169.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/03\/Bitcoin-Cash-Daily-Chart-Mar-21.png 1366w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Trend and Candlestick Formation: Bullish, Bear Breakout<\/h3>\n\n\n\n<p>From a top down approach, sellers are in control and yet to\nrecover from the losses of mid-Nov 2018. That means, BCH\/USD is trading within\na bear breakout pattern. <\/p>\n\n\n\n<p>However, from a second look, price action is trending within\nDec 16-20 bull bars and the failure of sellers to close below $70 means buyers\nhave a chance in the short-term. It has been affirmed by bulls finding support\nand bouncing off the 78.6 percent Fibonacci retracement level based on Dec 2018\nhigh low. <\/p>\n\n\n\n<p>If anything, this is bullish in the short-term and albeit the\ndeep correction, BCH could rally to $230 but that is largely dependent on\nwhether bulls clear our minor resistance level at $170 marked by the 38.2\npercent Fibonacci retracement level of Dec 2018 high-low.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Volumes: Bearish<\/h3>\n\n\n\n<p>Although BCH buys have an upper hand, sustaining their\nmomentum are low volumes. Four weeks later and bulls have managed to recover\nlosses but accompanying volumes are low. <\/p>\n\n\n\n<p>On Feb 24, volumes stood at 85k but Mar 16 bull bar was\npumped by low volumes at 78k.&nbsp; What we\nneed, for our bullish stance to hold true, is for prices to break above $170\nwith high participation exceeding 90k. That will confirm bulls of Feb 18 and\nmight be the necessary impetus for a possible BCH rally.<\/p>\n\n\n\n<p><strong><em>All charts courtesy of Trading View\u2014CoinBase<\/em><\/strong><\/p>\n\n\n\n<p><strong><em>This is not investment advice. Do you research.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After Avnet and Vordex Suisse support, we expect Bitcoin Cash (BCH) demand to increase and find use as a medium of exchange driving adoption. With high demand, prices will easily print above $170 towards $230.<\/p>\n","protected":false},"author":34,"featured_media":37739,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6415],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/37737"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=37737"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/37737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/37739"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=37737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=37737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=37737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}