Bitcoin Cash was among the cryptocurrencies that rocketed while Bitcoin dropped to $5.650 from $ 5.900 last week. According to crypto analysists, Bitcoin Cash may be a better option for traders with short-term runs than Bitcoin since it was more potential to grow and favor crypto traders in the weeks to come.
The market is positive for Bitcoin Cash as it trades at 5.3 percent with a price of $293.51. “$BCH continuing the bullish bias, we appear to be the 5th wave (green) and done with the yellow Subwaves 1 & 2. We also have a golden cross where 50DMA goes above 200DMA, which is bullish. I expect some resistance at 300MDA ($340).” Crypto analysts on Twitter Keshav Narla explained in his tweet about the upward momentum that Bitcoin Cash could reach.
Another crypto trader on Twitter by the name UB shared his thoughts on Bitcoin Cash’s price, “$BCH – I entered into a long position a few hours ago. I’d like to see .0525 reclaimed as support on the next test.” The Crypto Dog, among the famous crypto analysts on Twitter, expressed its bias for Bitcoin Cash over Bitcoin, “In case you’re wondering why I’d rather be in $BCH than $BTC right now. Not saying for sure we go straight up (if I knew that I’d just all in no stops), but if we do, Roger’s coin has a lot more room to pump.”
Bitcoin may not experience the buying pressure from the market since it struggles to go beyond $6.000. This places Bitcoin Cash at a more favorable buying position for crypto traders and analysts. The challenge for Bitcoin Cash is exceeding the $300 mark.