The cryptocurrency market navigates choppy water amid increased geopolitical tensions, with Bitcoin cash (BCH) showing stability despite greater market pressure.
BCH recently showed strong technical performance, forming a V -shaped recovery after testing critical support of $ 391.656, with a large amount of purchase that established a high -volume support level.
It will come as the global cryptocurrency market is facing headwinds from the ongoing US-China trade dispute, which continues to introduce uncertainty throughout the financial market worldwide.
Meanwhile, traditional financial indicators such as increasing the US ark produce signal systemic stress history that creates mixed environments for risk ownership such as cryptocurrencies.
Technical assessments
- BCH tried critical support of $ 391.656, which triggered a large amount of purchase especially during 01: 00-04: 00 timeframe.
- A strong breakout occurred within 13:00 hours, with a BCH falling to $ 416.958 at the highest time -oras volume (28,068 units).
- The price has established a new support support support at $ 409.800, with momentum indicators that suggest potential for ongoing upside down.
- A bull flag pattern formed after the initial transfer of the impulse, with a reduction of volume during integration -included a potential continuity.
- The $ 413.000- $ 413.500 zone represents a basic level of support that the Bulls needs to defend to maintain the upward momentum.
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