- The price movement of Bitcoin Cash was not synchronized with the best crypto assets.
- The bullish momentum behind BCH will probably see the price rise beyond $ 600.
In the past six weeks, Bitcoin Cash [BCH] Has 27.2%Gerally. Bitcoin, on the other hand [BTC] lost 0.78% in the same period.
Of course that divergence raised eyebrows. It hinted with a decoupling between two top activa one that could benefit traders.
Intotheblock data showed that BCH had a +0.25 correlation with BTC in the last 30 days. This was an indication for only a weak positive correlation between the price movements of the two.
Even more interesting?
Bitcoin Cash had a negative correlation with many other popular altcoins, such as Ethereum [ETH] and dogecoin [DOGE].
This was also proof that although the Altcoin market was sick, Bitcoin Cash could serve as a safer gamble.
Bitcoin Cash Set Rally More than $ 600 Next
Source: BCH/USDT on TradingView
The weekly graph showed a reach formation (white) between $ 272 and $ 624.
A compelling argument for the range was how the middle range level was respected at $ 448 and both a support and a resistance in the past year.
More recently it acted as a resistance in May before it turned around to support in June.
In fact, this Flip came after the weekly structure saw a bullish structure break after a movement beyond the previous lower high (orange) at $ 420.
This break on the market structure was accompanied by a rising BBV, indicative of a steadfast purchase volume. The RSI also climbed past the neutral 50 at the end of April and indicated a shift in Momentum to the bulls.
The $ 500-$ 530 region could serve as a resistance. It has done this in the past, and the $ 500 level was also a psychological resistance.
What is the following with BCH?
BCH recently hit a local highlight of $ 530 on 1 July. It will probably surpass this level soon, because the lower schedules, such as 4 hours, were also Bullish.
The open interest was increasing and showed speculative conviction in BCH. Moreover, Bitcoin Cash has made a new high for the year 2025.
The next key objective is on the range of $ 640. And traders can expect that the momentum will encourage prices in the coming weeks.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer