The cryptocurrency market is sailing through the choppy waters in the middle of increasing geopolitical tensions, with Bitcoin Cash (BCH) that shows resilience despite the wider pressure of the market.
BCH recently demonstrated a strong technical performance, forming a V -shaped recovery after trying a critical support at $ 391,656, with a substantial purchase volume that establishes a high volume support level.
This occurs when the global cryptocurrency market faces winds against the current commercial disputes between the United States and China, which continue to introduce uncertainty in financial markets around the world.
Meanwhile, traditional financial indicators such as the increase in the United States Treasury indicate systemic stress that historically creates mixed environments for risk assets such as cryptocurrencies.
TECHNICAL ANALYSIS
- BCH tested critical support for $ 391,656, which triggers a substantial purchase volume, particularly during the term 01: 00-04: 00.
- There was a powerful breakup during 1:00 p.m., with BCH increasing to $ 416,958 in the highest time volume (28,068 units).
- Price established a new level of resistance turned into support to $ 409,800, with impulse indicators that suggest potential to continue upwards.
- A bull flag pattern was formed after the initial impulse movement, with a decrease in volume during consolidation that suggests continuous potential.
- The $ 413,000- $ 413,500 zone represents a key support level that bulls must defend themselves to maintain an upward boost.
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