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Crypto Exchange Poloniex Announces ‘Pre-Fork’ Trading for Bitcoin Cash

Poloniex announced Tuesday it will be the first cryptocurrency exchange to offer trading for the pending bitcoin cash (BCH) hard fork amid an ongoing debate over the technology’s roadmap.

Starting Wednesday night, Poloniex, operated by Goldman Sachs-backed startup Circle, revealed it will begin offering customers the option to buy bitcoin cash ABC (BCHABC) and bitcoin cash SV (BCHSV) trading tokens.

This is the first time Poloniex has offered trading pairs for a crypto asset prior to a possible fork, a move it says is part of a wider strategy to increase the company’s customer experience, according to a company blog post.

The post reads:

“We’re doing this to empower customers to demonstrate their support for one coin over the other through trading activity. Poloniex will also support trading markets for both tokens after the hard fork.”

In the message, the exchange stressed its intention to remain neutral during the split in order to allow the community to decide which blockchain it will support, demonstrated through advanced trading activity. It also stated that it would be evaluating each hard fork individually to decide whether to support the fork or continue pre-fork trading.

Pre-fork trading has been made available for USDC/BCHSV and USDC/BCHABC as well as bitcoin trading pairs.

Customers will also be able to convert their BCH into an equivalent amount of BCHABC and BCHSV and vice versa if they wish to withdraw funds, but they will not be able to withdraw BCHABC and BCHSV ahead of the fork.

The exchange plans to continue supporting trading for both bitcoin cash ABC and SV after the planned fork on Nov. 15.

Overall, the news comes during what has been a slower trading day for the crypto asset, one that has surged of late on the news traders may be able to receive additional tokens through the creation of a competing blockchain, should the blockchain’s users continue to support both versions of the technolog.  At press time, the price of bitcoin cash is down 0.81 percent on the day.

Source:coindesk

Bitcoin Cash

Bitcoin Cash Price Prediction: BCH/USD Upside Movements Cut Short Under $350

BCH Price Prediction – February 25

The Bitcoin Cash (BCH) is trading in the red, with losses of 7.98% in the second half of the session.

BCH/USD Market

Key Levels:

Resistance levels: $450, $470, $490

Support levels: $270, $250, $230

BCHUSD – Daily Chart

At the time of writing, BCH/USD has adjusted lower from $377.48 which is the opening value to trade at $373.11. An attempt to pull upwards has been capped under $400 with $381.01 being the intraday high achieved so far. However, the Bitcoin Cash price upside is limited under $350 as well as the descending trend line resistance. The path of the least resistance remains to the south amid growing selling activities.

Since Bitcoin Cash couldn’t break above the 9-day and 21-day moving averages to move out of the channel for the price has had a bearish inclination for the past few days. It became an uphill task to sustain the gains above the critical $400 due to the renewed bearish momentum emanating from the rejection around $495.

However, if the market drives below the $300 support, BCH price could slump to $270, $250 and $240 support levels, bringing the price to a new low as the RSI (14) prepares to cross below the 40-level. Meanwhile, a strong buying pressure may take the price to $420 resistance. While trading at $420, a bullish continuation is likely to touch the $450, $470 and $490 resistance levels.

Against Bitcoin, the BCH market has evolved for a while in a very different way. But currently, the sellers are gaining control of the market as they move below the 9-day and 21-day moving averages around the lower boundary of the channel while the RSI (14) moves below the 40-level, indicating more bearish signals.

BCHBTC – Daily Chart

Similarly, the downtrend is seen giving the sellers the confidence to increase their entries. More so, if the bears succeeded in breaking below the channel, one would expect the market to fall to the support level of 0.033 BTC and 0.031 BTC. In other words, a rebound could increase the price to the resistance level of 0.043 BTC and 0.045 BTC.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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Bitcoin Cash (BCH/USD) forecast and analysis on February 26, 2020

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 372. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator strip.

Bitcoin Cash (BCH/USD) forecast and analysis on February 26, 2020

As part of the Bitcoin Cash forecast, a test of level 385 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 325. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at the level of 402.

Bitcoin Cash (BCH/USD) forecast and analysis on February 26, 2020

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​410. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on February 26, 2020 implies a test level of 385. Further, it is expected to continue falling to an area below level 325. The conservative sales area is near area 402. The breakdown of the cryptocurrency fall option will be a breakdown of the level of 410. In this case, we should expect continued growth.

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Bitcoin Cash (BCH/USD) forecast and analysis on February 25, 2020

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 390. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on February 25, 2020

As part of the Bitcoin Cash forecast, a test of level 405 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 342. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 406.

Bitcoin Cash (BCH/USD) forecast and analysis on February 25, 2020

Cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​430. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on February 25, 2020 implies a test level of 405. Further, it is expected to continue falling to the area below the level of 342. The conservative sales area is located near the area of ​​406. The breakdown of the cryptocurrency fall option will be the breakdown of the level of 430. In this case, we should expect continued growth.

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