Bitcoin Cash

Litecoin

Bitcoin

Shiba Inu

<p>The price of Bitcoin is getting closer to the long-awaited $100,000 mark. The crypto community is full of anticipation as the price approaches this psychological level. Various tokens within the ecosystem are also experiencing major price rallies. This has also affected the price of BCH.</p>
<p>XForceGlobal, in a post about<a href="https://coinmarketcap.com/currencies/bitcoin-cash/" target="_blank" rel="noopener noreferrer nofollow"> Bitcoin Cash (BCH),</a> mentioned that the token looks positioned for a potential “violent breakout.”</p>
<p>They mentioned the historical significance of BCH and Litecoin (LTC) as “Dino Coins,” both of which have been in a prolonged accumulation phase exceeding 2,500 days, characterized by a series of higher lows.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/this-meme-coin-trader-updates-his-shiba-inu-shib-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">This Meme Coin Trader Updates His Shiba Inu (SHIB) Price Prediction</a></em></strong></p>
<p>This long-term trend shows that both cryptocurrencies are forming a symmetrical triangle, setting the stage for a significant price movement in the near future.</p>
<p><a href="https://x.com/xforceglobal/status/1859298383955198267?s=46" target="_blank" rel="noopener noreferrer nofollow">The chart analysis</a> indicates that BCH has been consolidating for over 2,530 days, aligning with XForceGlobal’s observations of these altcoins. The presence of a large descending triangle or wedge formation in the price action hints at an impending breakout.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="687" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-1024x687.png" alt="" class="wp-image-585394" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-1024x687.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-768x515.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-1536x1030.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-2048x1374.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702-788x528.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-702.png 1749w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="two-possible-breakout-scenarios">Two Possible Breakout Scenarios</h2>
<p>Utilizing <a href="https://www.investopedia.com/terms/e/elliottwavetheory.asp" target="_blank" rel="noopener noreferrer nofollow">Elliott Wave theory,</a> the current structure suggests BCH may be completing a corrective phase, with an imminent impulsive breakout on the horizon.</p>
<p>The breakout potential is significant; if BCH surpasses the descending trendline, it could see price levels soar toward $1,000 to $3,000.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/xrp-price-prediction-bitcoin-dominance-collapse-could-trigger-a-massive-rally/" target="_blank" rel="noopener noreferrer nofollow">XRP Price Prediction: Bitcoin Dominance Collapse Could Trigger a Massive Rally!</a></em></strong></p>
<p>Two breakout scenarios are proposed: an aggressive breakout that drives BCH rapidly toward the $2,000 to $3,000 range, or an extended accumulation phase where BCH remains within the triangle until stronger market momentum is achieved.</p>
<p>Support levels around $220 to $330 have consistently held during this accumulation phase, indicating a solid foundation for a bullish trend, particularly if macroeconomic conditions remain favorable.</p>
<p>Resistance levels, particularly the critical point near $860, will be crucial; a successful breach could pave the way for BCH to reach between $1,600 and $3,000, as anticipated by the larger Elliott Wave cycle.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-cash-bch-nearing-a-violent-breakout-as-btc-price-approaches-100k/" rel="noopener noreferrer nofollow">Bitcoin Cash (BCH) Nearing a ‘Violent Breakout’ as BTC Price Approaches $100k</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Cash (BCH) Nearing a ‘Violent Breakout’ as BTC Price Approaches $100k

Table of Contents

CaptainAltcoin

Other articles published on Nov 21, 2024

Bitcoin Cash (BCH) and Bitcoin SV (BSV) Rally with Double-Digit Gains: What’s Driving the Momentum?

Donald Trump Mulls First-Ever Crypto White House Role: Report

Brazil’s Central Bank Selects Chainlink for Drex Project’s Secure Settlement

Coinbase CEO Brian Armstrong to Meet President-Elect Trump Over Possible Crypto Regulation

Top Analyst Highlights 3 Promising Altcoins Ready to Soar

Elden Ring hits $20 for Black Friday

Join our free newsletter for daily crypto updates!