Today we will look at BCH and its growth in 2020. We will look for a level of support where will bounce upwards and not just that, we will also look into the past to find new values ​​for resistance.
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[BCH / USD] In 2020 to current value: + 90.39%
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Bitcoin Cash will surely be of interest to many of you, after an incredible pump in 2020, it appreciated up to 145% (high 2020). It grew from US $ 203 to January 1, 2020 to $ 500. We are currently at $ 371.
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As I have written many times on BCH analysis, C. Wright made perfect use of the fomo and buzz around Bitcoin SV and hardfor. Like Bitcoin, he will have a halving in May and this will increase its value along with the expected BTC growth.
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BCH may be a big surprise in 2020. The values ​​with which we started the year at $ 203 will be ridiculous, even at a price of $ 500 the piece seems so.
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Support
At the moment, it seems that we could find support at $ 371. If we do not keep this thin level of support, we need to respond, as a drop to $ 338 would not miss us. That’s another support, a week ago we touched it with a wick. Several other altcoins have the same support as BCH.
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Even the BTC has its support at $ 9,500, and this support (at BCH at $ 371) could be a serious reason for continuing to grow and bounce up. Everything will depend on whether we maintain a $ 371 support. We see 2 options, either the support line will last and we will have another 500 USD (blue line), or we will go lower (red line).
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Resistance
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Of course, we see resistance at this year’s high of $ 500. Looking back, we could see another resistance at $ 641.
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Thank you for taking the time to analyze today.
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