The Momentum is Bullish for Bitcoin Cash (BCH) if the Price Stays Above This Support Level – Here’s Community’s Outlook

Bitcoin Cash (BCH) has been the story of the day in the cryptocurrency industry. The coin is currently trading at a promising $235, marking an impressive increase of almost 6% in the last 24 hours. Such a surge in price has piqued the interest of many, leading us to delve deeper into the community to uncover the reasons behind this recent uptrend.

Famous Twitter analyst, TheCryptoMouth, recently shared his insights on the coin’s performance. He pointed out that $BCH, also known as Bitcoin Cash, has successfully navigated out of a potentially risky zone. The coin made a flawless bounce within its trading channel that has been established since July 1. TheCryptoMouth had previously emphasized the importance of the price climbing above the $224 mark, and it seems BCH did not disappoint.

Source: CoinStats

The coin’s current position is just below a resistance area, making the next price action crucial. Will it break out upwards? Or will it swing back down to the lower part of the downtrend channel? Or perhaps, it might begin to consolidate. Only time will tell, TheCryptoMouth concludes.

In another interesting development, Whale Trade Alerts, a top-notch on-chain analyst, reported significant whale activities related to BCH. In a span of just a few hours, there were multiple large buy orders for BCH on Binance USDⓈ-M:

  • $95.03k #BCH longed at $239.75 (USDT)
  • $59.98k #BCH longed at $239.90 (USDT)
  • $59.23k #BCH longed at $239.90 (USDT)

Such substantial moves by top traders could very well be indicative of the recent surge in BCH’s price. It’s worth noting that these are just a few examples, and there have been many more similar activities reported today.

Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

Well-known trader, Mr. Tonks, also weighed in on the BCH situation. He highlighted the coin’s resilience, especially when its price drops are not led by Bitcoin ($BTC). He hinted at a favorable Risk to Reward ratio and pointed out the Daily EMA 24 as a target. This comes after his previous tweet where he suggested that BCH might take a significant leap if Bitcoin faces a downturn, emphasizing the potential room for growth on the weekly charts.

You can buy BCH on Coinbase or Binance exchanges.


The recent surge in Bitcoin Cash’s price has undoubtedly caught the attention of many in the crypto community. Insights from top-notch analysts and traders suggest a mix of technical factors and significant whale activities as potential reasons behind this uptrend.

As BCH currently hovers below a resistance area, the crypto community will be keenly watching its next moves. Whether it breaks out, consolidates, or swings back down, one thing is clear: BCH remains a coin of interest, and its future trajectory will be closely monitored by experts and enthusiasts alike.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

We will be happy to hear your thoughts

Leave a reply