Can Bitcoin Cash Break out From its Long-Term Resistance? | Credit: Hameem Sarwar
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Key Takeaways
Bitcoin Cash (BCH) aims to break out from long-term resistance.
The BCH price has already recovered from its decline on May 17.
Can Bitcoin Cash sustain its upward movement and break out?
Bitcoin Cash (BCH) was all the rage in 2017, hitting an all-time high and becoming one of the five biggest cryptocurrencies based on market cap.
It has never reached those highs again, correcting for over seven years under diagonal resistance.
This could all be coming to an end in 2025. BCH is set for a breakout from this resistance, possibly triggering a parabolic upward movement that could revisit its previous highs.
Bitcoin Cash Breakout
The weekly time frame price analysis shows that BCH has fallen under a descending resistance trend line since the all-time high in December 2017.
During this time, BCH made three unsuccessful breakout attempts (red icons), the most recent in December 2024.
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Technical indicators are also bullish. The Relative Strength Index (RSI) crossed 50 while the Moving Average Convergence/Divergence (MACD) is positive (black circles).
Finally, the wave count shows a completed A-B-C-D-E structure, another sign pointing to a BCH breakout.
As a result, the long-term BCH price prediction is bullish, and a breakout is finally on the cards.
New BCH Highs
The daily trend is also bullish but suggests a short-term retracement could occur.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
