Bitcoin Cash Surges on Large Holder Demand and Technical Indicators
Main Idea
Bitcoin Cash (BCH) has surged past $570 due to increased demand from large holders and positive technical indicators, with potential for further gains if key resistance levels are broken.
Key Points
1. Bitcoin Cash (BCH) surpassed $570, becoming one of the few top 20 cryptocurrencies to show gains.
2. IntoTheBlock data shows a net inflow of 66,040 BCH to wallets holding at least 1% of the supply on July 4, indicating strong institutional or whale demand.
3. The price rose from $483 to $571 following significant accumulation by large holders, suggesting whale activity can predict price movements.
4. Technical indicators like the 20-day moving average ($530.70) and Bollinger Band upper band ($587.10) support a short-term uptrend, but the $600 level remains a psychological barrier.
5. A break above $587 with volume could target the March peak of $610, while a drop below $560 may lead to a correction toward $510.
Description
Bitcoin Cash's price surpassed $570 due to significant whale accumulation. Whale demand for BCH is at a historical peak, suggesting strong interest. Continue Reading: Bitcoin Cash Surges on Large Holder Demand and Technical Indicators The post Bitcoin Cash Surges on Large Holder Demand and Technical Indicators appeared first on COINTURK NEWS .
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