Recently, the price trend of Bitcoin and Bitcoin Cash is the focus of discussion in the currency circle. Is bitcoin price continuing to rise from breaking through the high price to falling?
On the other hand, the RSI is turning after reaching the overbought level, indicating that the selling pressure has rebounded. There is still room for growth in the Stochastic, so the buyer’s momentum still exists. Before the attraction of more buying hobbies, the seller's short-term return may bring the Bitcoin price back to around $6,850. After the bitcoin price was consolidating in the rising wedge-shaped area, it was pulled up again for a short time, breaking through the top of the area, indicating that the bulls are ready to go, pushing the stock to push up the price. It is expected to continue to rise after a small correction, with the upper resistance at 7,000-7100 USD. As more Bitcoin is still in the process of volatility, the support level is gradually moving up.
The BCH price broke through two important resistance levels of $530 and $540. The bearish trend line on the BCH / USD hourly chart has been broken. After rushing to $555 in the morning, it started to fall back, but it could basically stand firm at the support level of $530-540. The next wave of rebound will continue to hit $555.
Recently, according to bitcoin web, Cobra has also joined the debate in the BCH community. Cobra said that BCH will have an upgrade every six months, and the resonance mechanism supported by Bitcoin ABC and Nchain (and Coingeek) is completely different. Even a temporary fork can cause long-lasting damage. Therefore, he thought that once both parties received the support of the power, it would probably lead to the failure of resonance, thus splitting two competing chains and exaggerating. Such reputation loss is not worth it at all, all in order to avoid some developers and miners. Injured in unimportant and non-emergency changes. Ten years ago, Bitcoin's first developers, Nakamoto Satoshi and Martti Malmi, applied for the domain name Bitcoin.org, and on the occasion of its 10th anniversary, Cobra, one of the domain name holders, commented on BCH. This can damage the value of BCH, lead to complete ridicule of BCH, and the massive loss of trust and faith.
