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BITCOIN CASH PRICE ANALYSIS & PREDICTION (June 17) – BCH Sustains Bullish Amid Market Turmoil, Nears Yearly High
- BCH has shown strength in the market, sustaining bullish momentum amid market turmoil and nearing its yearly high.
- The cryptocurrency defied market odds by posting gains monthly and recovering significantly from a dip earlier in the year.
- BCH experienced a short pullback but regained positive momentum following a market sentiment change.
- The current short-term outlook for BCH is highly bullish, although there has been a recent slowdown in buying pressure due to decreased volume inflow.
- Recent insufficient volume caused rejection in the market, leading to low trading volatility and choppy price actions.
- Further rejections below $500, the yearly high, might temporarily hinder the bullish trend before potential upward movement.
- Despite possible setbacks, the ascending trendline is seen as crucial for providing support and preventing a significant downward move.
- BCH is currently being controlled by bulls, but losing the trendline could pave the way for bears to take over the market.
- Key resistance levels for BCH include $500, $557, and $600, while key support levels are at $378, $349.2, and $314.
- The current spot price for BCH is $465, with a bullish trend and high volatility.
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