Technical analysis by dsteaves about Symbol BCH: Buy recommendation (7/29/2024)

BCHUSD on the weekly timeframe is looking bullish. It appears we may have a golden cross happening, with the 50 weekly (green line) about to cross over the 200 weekly (red line) moving average. Also, BCHUSD broke out of a descending channel to the upside further bolstering a bullish case. The monthly looks like it will close as a bullish pinbar too. I think its reasonable to see BCHUSD move upwards toward the $490-525 zone. What concerns me is a lack of volume on the weekly and monthly timeframes. Overall though, things are looking good for Bitcoin Cash! Let me know what you think.