🪙Bitcoin Cash ($BCH ) is a fork of the original bitcoin (#BTC ) created in 2017. One of the main reasons for the Bitcoin split was the need to increase the block size to increase network bandwidth and reduce #transaction fees. As a result, Bitcoin Cash blocks are 8MB in size, allowing more transactions to be processed at a time.

📈The stock has been moving for a long time between the global support level around $400 and the global resistance level around $700. We also tested the global resistance level around 520$, which is also bordering the area of increased volume and got a reaction many times. Also the asset moved very technically in the trading channels, from the borders of which we got constant reactions.

➡️In the nearest future I expect a retest of the global support level and subsequent breakdown of the upper boundary of the descending trading channel. The first short-term target for us will be $528, which is acting as a heavily liquid area

➡️In the medium term, I expect a breakdown of 2 global resistance levels and further growth up to $720. For this we also need to break imbalance on weekly TF.

➡️ If we consider this asset on the #Spots the ultimate goal for us will be to reach the target at 1200$, where there is a global resistance level. I would like to note that this asset has excellent fundamentals and tokenomics

#CryptoWatchMay2024 #BlackRock