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Let's analyse BCHUSDT both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Bitcoin Cash (BCH) is a cryptocurrency that split from Bitcoin (BTC) in August 2017. It was created to address Bitcoin's scalability issues, featuring larger block sizes (initially 8 MB) for faster and cheaper transactions. BCH aims to be a practical digital cash for everyday use, emphasizing low fees and quick processing. The BCH community continues to develop and improve the network.
TECHNICAL ANALYSIS:
BCHUSDT has exhibited a significant price movement. After a prolonged period of trading within a symmetrical triangle pattern, the price has successfully broken out. This breakout is supported by an RSI volume breakout, indicating a potential bullish trend. Additionally, a substantial increase in 24-hour volume suggests growing interest and potential upward momentum.
Buying Levels:
CMP to $339.7
Target Levels:
Hold for 2x-3x in long term.
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