Bitcoin Cash, Chainlink, Cosmos Price Analysis: 18 December
Bitcoin briefly dipped to $45.5k in recent hours but pushed back above the $46.4k level, and altcoins registered some short-term gains following this dip. If Bitcoin has indeed reclaimed the lows of the range it has been in recent days, a move to $52k could be likely over the next week. Many altcoins, one example being Chainlink, were on the verge of moving above shorter timeframe trendline resistances.
Source: BCH/USDT on TradingView
Using the Fibonacci retracement tool for Bitcoin Cash’s move from $731.4 to $344.1, it can be observed that the price was right beneath the 23.6% retracement level. BCH has already faced selling pressure at its 55 SMA (green), and the 21 SMA continued to move beneath the 55 SMA on the 4-hour chart.
The $418 level
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