Bitcoin and other crypto tokens were trading mixed on Thursday as s rising interest rates and macroeconomic factors made market sentiments jittery. US Securities and Exchange Commission (SEC) Chair Gary Gensler continued his combative stance against crypto in congressional testimony on Wednesday.
Bitcoin Cash (BCH) is a decentralized cryptocurrency designed as a peer-to-peer electronic cash system, striving to establish itself as a reliable global currency with swift transactions, minimal fees, enhanced privacy features, and an increased block size. This cryptocurrency operates without the need for any trusted third parties due to its permissionless nature.
Image: Chart-BTCash
On the daily time-frame, the BCH/USDT trend has come out of its consolidation phase as the chart breaks out of a long-formed triangle pattern with significant buying volumes. The daily price momentum indicator or the RSI has crossed 65 for the first time in nearly 3 months. The next resistance is expected at 250 USDT and an immediate support is expected at 207 USDT.(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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