BCH Price Is To Double In November? Traders Explain What Makes $500 Price Level Possible

Price Predictions
Fri, 10/11/2019 - 11:40
Vera Yurina
Bitcoin Cash price might reach a $500 price target in November, but what should happen before it breaks out? The answer is in BCH price predictions from TradingView
Cover image via tradingview.com

Disclaimer: The opinion expressed here is not investment advice it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

 

Bitcoin Cash has been performing pretty well this week and shows the general bullish signs. But if you think that it’s too late to invest in BCH right now, this Bitcoin Cash price prediction from TradingView will, probably, make up your mind. 

Do you believe that BCH will double its cost in November? Traders are sure about it, and here’s why.

Attention to H&S pattern

Bitcoin Cash (BCH) price chart by TradingView

On the chart above, we can see the highlighted trendlines regarding Bitcoin Cash's quiet sideways movement, perhaps we'll see some movement from alts into 2020 now that attention is on Bitcoin. We have a head and shoulders possibility here to send us down, but it must be already invalidated. H&S usually doesn't hold much weight in crypto.

So, when to enter the market? Traders are still waiting on a buy because BTC will be pushing everything down currently.

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A bit of bearish before bullish

Bitcoin Cash (BCH) price chart by TradingView

User StockGuild is expecting a move down to $170 with $BTC testing $6K before the major move back up. A lot of traders have been discussing the probability of bearish trend before BCH soars in the sky, so this opportunity doesn’t seem unlikely anymore.

Looking like things are starting to bubble up in the alt market with the dominance chart taking its much-anticipated dump. There are some really good breakout trades that can be taken at this time. And BCH might bring us great profits, as well. 

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions, can be contacted at vera.yurina@u.today


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