Bitcoin Cash (BCH) broke out from the $625 horizontal resistance.
The BCH price bounced off a long-term descending resistance trend line.
Can Bitcoin Cash finally hit $1,000 by the end of the year?
Bitcoin Cash (BCH) has spent more than a year trying — and failing — to break past the $625 resistance level.
Now, the tide may finally be turning. BCH is pushing above this critical zone and could confirm the breakout with a strong weekly close.
If the move holds, analysts say the price could accelerate toward $1,000 — and potentially even set a new all-time high.
Let’s take a closer look at the charts to see how likely that scenario is.
Bullish Bitcoin Cash Trend
The Bitcoin Cash price broke out from a descending resistance trend line in July, suggesting it has ended its lengthy correction.
However, optimism dampened after the BCH price failed to break out from the $625 horizontal resistance, suffering two rejections (red icons).
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While the price action is bullish, momentum indicators show some weakness. The Relative Strength Index (RSI) has almost created a bearish divergence, and the Moving Average Convergence/Divergence (MACD) shows weakening momentum.
So, the Bitcoin Cash trend leans bullish, but the price needs to close above $625 to confirm that new highs are likely.
BCH Correction Ends
The long-term wave count suggests that BCH has completed its long-term correction and started an upward movement that will take it to new highs.
According to the count, BCH has completed an A-B-C-D-E correction (red), which lasted for more than seven years.
After beginning its upward movement in April, the breakout from the symmetrical triangle in July confirmed that the trend had ended.
If this is the case, the price of Bitcoin Cash has started a new upward trend that will take it to a new all-time high.
However, before it does, the first resistance level will be at $1,500, last reached in 2021.
Then, a successful breakout could take BCH to $3,000.
Bitcoin Cash Price Today
While the long-term trend is decisively bullish, the short-term one is more unclear.
The price action shows that BCH has traded inside an ascending parallel channel since the upward movement began in April.
Because the upward movement is expected to be an impulse, the channel’s presence creates confusion, since channels usually contain corrective movements.
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.
