Bitcoin Cash Price Prediction, another Bitcoin coin, is currently generating a lot of buzz. A popular crypto chart analyst is predicting that BCH could make a strong move very soon. But the question is:
is there any truth to what he says?
The analyst showed a daily chart of BCH in his video. According to him, BCH has come very close to a price limit from which the coin has not been able to move beyond in 2021. Whenever the price reached this level, it came back down.
What’s important now is that BCH is repeatedly testing this level. Analysts say that when the price repeatedly touches the same point, the chances of a breakout increase.
This range begins at the August 2021 price high. This level has rejected the price several times over the past four years, but now BCH is pushing hard against that same ceiling.
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Fibonacci Targets: $627 First, Then $960 For BCH
The trader used a Fibonacci retracement, plotted from the 2021 high to the bear market low. This highlighted a key level, representing 38.2% of the upside, located around $677. According to him, this is a strong resistance area where the price could struggle.
However, when looking at a shorter timeframe (short-time chart), he points to another nearby barrier, located around $627.60. When looking back at the chart, this price has reacted to this level several times before, making this level significant in the short term.
The analyst then switches to Fibonacci extensions.
He places these extensions:
Based on the recent swing low to the high, and then the subsequent higher low.
He uses the Elliott Wave Rule, which states that Wave 3 is never the shortest.
According to this analysis, once BCH breaks out of the current range, two possible upside targets emerge:
- Equal move target: around $851
- Strong Wave 3 target: around $960
The analyst says that if BCH reaches $960, it will confirm one thing: The price is more likely to move lower for a while, form a higher low, and then move higher again in a final Wave 5.
Bitcoin Lead, Dominance Fall
The analyst clearly states that the bullish scenario for BCH will only be valid if the overall crypto market supports it.
First and foremost, he points to Bitcoin. According to him, Bitcoin must regain the $90,000 level. This level has not yet been achieved in reality, but it is very important according to his framework. If Bitcoin reclaims this level, market confidence returns, and money then flows towards higher-risk altcoins, such as Bitcoin Cash Price Prediction.
He also emphasizes Bitcoin dominance. According to the analyst, Bitcoin’s dominance is currently around 59.56%, representing a 20% share of the total crypto market.
For a successful alt season, he expects:
- Bitcoin dominance to rise
- Be rejected at resistance
- Then fall.
He says that when dominance falls, it means capital is moving from Bitcoin to altcoins. In this situation, he expects BCH to break out, then retest old resistance as support, and then move higher.
At the end of the video, he becomes a little casual, reading viewer comments, and even discussing the Anthony Joshua vs. Jake Paul fight. But the trading message remains clear:
Bitcoin Cash Price Prediction is at its most important point in 4 years. The chart structure is pointing upward, but only when:
- Overall market support
- Bitcoin remains strong
- Bitcoin dominance leaves room for altcoins
If these conditions are met, the analyst expects a strong upside for BCH.
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People Also Ask – Bitcoin Cash Price Prediction
Which levels are most important for Bitcoin Cash (BCH) at this time?
The focus is on three main levels:
- Short-term resistance is near $627.
- The 38.2% Fibonacci retracement at $677, which is considered strong resistance.
If the range is broken, the $851 to $960 levels are upside targets (according to Fibonacci extensions).
What macro signals are traders watching?
He’s waiting for two things:
Bitcoin price to rise, ideally to near its reference level of $90,000.
Bitcoin dominance to fall, which would signal that money is moving out of Bitcoin and into altcoins.
If both of these things happen together, it creates a strong opportunity for altcoins like BCH.
Did the video also discuss downside risk?
Not in detail. The video focuses heavily on resistance levels, upside targets, and breakout scenarios. It is assumed that if macro signals are not strong, the price may stop or get rejected, but this has not been discussed in depth.
