Bitcoin Cash Attempts to Reverse Inside Long-Term Support

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In Brief
  • The Bitcoin Cash (BCH) price is trading inside a strong support level at ₿0.026.

  • The price is following a long-term descending resistance line and trading inside a short-term symmetrical triangle.

  • A bounce at this level is expected.

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On Feb 15, the BCH price reached a high of ₿0.0483. Since then, the price has been moving downward at an accelerated pace, having already decreased by 45%. The price made an attempt to initiate an upward move in the beginning of March, but was swiftly rejected and continued its downward movement. However, the price has reached a significant support level that could reverse this

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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