bitcoinBTC/USD
$ 20,286.00
ethereumETH/USD
$ 1,141.97
tetherUSDT/USD
$ 0.999671
cardanoADA/USD
$ 0.456872
xrpXRP/USD
$ 0.325439
usd-coinUSDC/USD
$ 1.00

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

BCH Technical Analysis – October 2021

Monthly Analysis

Over the last 30 days, BCH decreased by around 41%, making BCH quite bearish for the majority of September. However, a rounding bottom pattern emerged, and the price of BCH started increasing again. If BCH manages to break the resistance structured at the neckline of the pattern, then we could see BCH become even more bullish.

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

Weekly Analysis 

In the last 7 days, BCH has been on an uptrend. The price has increased by around 33% in just the last 7 days, making BCH bullish in the short term.

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

Daily Analysis

In an intraday chart, BCH has been as volatile as usual. While the price seems to be in consolidation in a 30-minute chart, the short-term trend is still bullish for BCH.

Key Structures

Support

  • $562

Resistance

  • $655

Indicators

Moving Average

Due to the recent price increase, the 20-day moving average is now below the price, meaning that the trend is now upward and that the price could increase in the coming days.

The 9-day EMA is also below the price and is currently acting as support for BCH by not allowing the candlesticks to close below it. This is another indicator that suggests that BCH could increase.

Relative Strength Index

The RSI of a daily chart is now approaching 70. This shows strong bullish tendencies and that the price of BCH is increasing at larger rates. However, if the RSI goes above 70, then we could see a dip in the price of BCH. As for the 40hour chart, the RSI has been on the edge of the overbought region, which indicates once more that traders are quite bullish for BCH.

MACD

The MACD line is above the signal line, indicating that the momentum is bullish for BCH. It is now headed above the baseline. It is already over the baseline and still above the signal line in a 4-hour chart.

Fear & Greed 

The fear and greed indicator in a 4-hour chart suggests that the current emotion for BCH traders is greed, meaning that traders are optimistic.

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

Fibonacci

The Fibonacci retracement levels suggest that the price of BCH recently retraced to the 61.8% level, and then aimed for the 23.6% extension level. Fibonacci ratios were respected in this case. 

Bitcoin Cash Price Prediction October 2021: Will BCH Reach $700 Again?

Price Prediction BCH – October 2021

Based on this technical analysis on Bitcoin Cash (BCH), we could see the price of BCH head higher in the coming days. If BCH is stopped at our projected resistance, then its price could go down. However, if the neckline from the rounding bottom pattern is broken, then we could see BCH aim for $670 and even close to $700 this month.

Latest News for BCH – Affecting Price

U.S. Bank, which is one of the biggest financial institutions in the US, has recently announced that it is offering custody services for major cryptocurrencies such as Bitcoin, Litecoin, and Bitcoin Cash. As more cryptocurrencies become implemented by businesses, governments, and even banks, their market cap could hugely increase.

Also read: Bitcoin Cash Price Prediction 2021 and Beyond – Is BCH a Good Investment?

Also read:

Related News

Will KuCoin Token Reach $100 in 2022 – KuCoin Price Forecast

KuCoin is a popular cryptocurrency exchange because of its cheap fees and extensive range of features. The platform allows you to trade in futures and margin products, using a vast variety of tokens to pick from. The crypto exchange also has a native coin KuCoin Token (KCS). KuCoin’s numerous features, low costs, and wide range of cryptocurrencies make it a great choice for experienced cryptocurrency traders. But what about its

Read More »
Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

ETH Technical Analysis – May 2022 Ever since hitting an all-time high in November of 2021 at around $4,800, the price of Ethereum (ETH) has been in a downtrend. Initially, the price declined by around 26%, and ETH ended the year at $3,500. That bearish momentum continued in January as well, where ETH declined by almost 45% in January alone. However, ETH managed to find support at $2,160, which then

Read More »
Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

BTC Technical Analysis – May 2022 Ever since Bitcoin (BTC) reached its all-time high in November of 2021 at around $69,000, the price has been in a downtrend. The price initially declined by more than 30%. BTC ended the year at around $50,000.  In 2022, BTC maintained that similar approach, where the price declined by an additional 35% in the first few weeks of the year. After finding support at

Read More »

My Coins

bitcoinBitcoin
$ 20,286.001.57%
ethereumEthereum
$ 1,141.970.08%
cardanoCardano
$ 0.4568722.15%
tetherTether
$ 0.9996710.08%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org