BCH Price Analysis: Will Bitcoin Cash Cross $300 in 2023?

Following the 200% leap in BCH value in June 2023, the Bitcoin Money value reached the peak of $300. Nonetheless, going through excessive promoting stress at increased ranges, the Bitcoin Money value is present process a short-term correction, resulting in a major downfall. 

At present, Bitcoin Money is bouncing between two key Fibonacci ranges: 61.80% and 38.20%. Which approach it breaks out of those ranges shall be a giant think about predicting its future value.

The BCH value has fallen by 39% within the final two odd months and has damaged under the 50-day EMA. At present, the Bitcoin Money value is buying and selling at $190, because it jumps from the 200-day EMA near $180 and the 61.80% Fibonacci stage. 

Discovering a powerful demand confluence at this stage, the Bitcoin Money value jumped 3.16% within the final 24 hours, projecting a possible reversal. Including extra on value motion, the Bitcoin Money value is projecting a possible double-bottom reversal to problem and delay the dying cross chance. 

The intraday progress tasks a possible reversal rally in BCH value that will quickly problem the overhead resistance of $228. 

Furthermore, the lower cost rejection current at this demand belt will increase the potential of a bullish end result. 

Relating to the technical indicators, the RSI line reveals a spark instantly rising to keep away from touching the oversold boundary. Nonetheless, the MACD line and the sign line keep a sideways pattern. 

When Will Bitcoin Money (BCH) Worth Attain $300?

The Bitcoin ETF approval will show to be the following catalyst to spice up BCH value. Nonetheless, its deadline has been set to October by the SEC. If the SEC approves the Bitcoin ETF, the BCH value is anticipated to skyrocket and probably create a brand new peak above $300.

With a extra technical method, the BCH Money value can attain $228, with the trendline breakout, a 20% leap. Moreover, if the value pattern manages to maintain the bullish momentum, the uptrend can proceed to succeed in the $300 mark. 

On the flip facet, a downtrend continuation under the 200-day EMA will show catastrophic for Bitcoin Money’s value. This will result in a value fall to $100, accounting for a 44% drop in market worth.