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Bitcoin Cash technical analysis: BCH/USD narrowing subject to an explosive breakout

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  • Bitcoin Cash price on Friday is trading marginally in the green, up some 0.2%.
  • BCH/USD price action continues to move within a bullish penannt via the daily view. 
  • The next major likely region of interest for the bulls upon renewed momentum would be $500. 

Spot rate:                 412.79

Relative change:      +0.20%

High:                        417.85

Low:                         405.70.

BCH/USD 60-minute chart

  • A supply zone running within the $420 area has capped the bulls with further upside via the 60-minute. 

BCH/USD daily chart

  • BCH/USD is moving within a bullish pennant structure, this has been the case since early May. 

source:fxstreet.

Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on October 15, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 226. 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 October 15, 2019

As part of the Bitcoin Cash forecast, a test of level 230 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 200. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 235.

Bitcoin Cash (BCH/USD) forecast and analysis on October 15, 2019

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area 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 ​​250. 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 October 15, 2019 implies a test level of 230. Further, it is expected to continue falling to the area below the level of 200. The conservative area for selling Bitcoin Cash is located area of 235. Canceling the option of falling cryptocurrency will be a breakdown of the level of 250. In this case, we can expect continuation growth.


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Bitcoin Cash takes over Bitcoin, Litecoin, Ethereum in Australian retail space

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Roger Ver’s Bitcoin Cash seems to be stepping up in the race to accelerate mass adoption after the coin recently surpassed Bitcoin in retail spending in Australia. This was found after Bitcoin BCH, an online platform, released a report which tracked the total cryptocurrency usage in Australia for the month of September.

The website arrived at the results by combining data from two payment processors namely, Travelbybit [TBB] and Hula aka Hockings Underwriting Logistics App, further estimating the total spend along with transaction count for each digital asset in Australia. Total retail sales in cryptocurrencies were $39,405, and were used for over 625 different transactions.

Source: Bitcoin BCH

The above chart reveals that Bitcoin Cash [BCH] dominated the crypto-retail spending space in the country, with BCH accounting for 92.45% of the transactions, which is $36,430.97. On the other hand, other cryptocurrencies were seen lagging far behind. The Lightning Network recorded about 3.11%, which accounted for $1,224.54, while the Malta-based cryptocurrency exchange Binance’s native cryptocurrency, BNB, accounted for 2.32% of all transactions, which came to be $913.02.

The largest cryptocurrency by market cap, Bitcoin accounted for only 1.89% of all transactions, worth $744.55. Other prominent altcoins like Litecoin [LTC], BSV and Ethereum [ETH] were barely used for any retail spending in the country.

Source: Bitcoin BCH

The above chart represents retail transactions in cryptocurrencies in Australia, where BCH was again seen ruling the space with a share of 80.32% as it constituted about 502 transactions. Lightning Network again stood second as it initiated about 70 transactions with a share of 11.20%. Bitcoin, on the other hand, recorded only 25 transactions, and accounted for only 4%.

These statistics are pehaps confirmation of Bitcoin Jesus Roger Ver enthusiastically revealing last month that several restaurants in Australia had extended its support to BCH by accepting it as payment option. The tweet in question read,

“#BitcoinCash is about to become spendable at 1000s of real world restaurants across #Australia thanks to @livenpay who chose #BCH due to its massive user base and ease of use! #LVN is listing today on http://ZB.com and http://exchange.bitcoin.com soon.”

Australia seems to be growing remarkably crypto-friendly as the country’s largest refinery, Perth Mint, recently announced the launch of a gold-backed Ethereum token which would be guaranteed by the Western Australian government.

Source:ambcrypto

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[2019 Updated] Best ways to buy Bitcoin Cash safely

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Where Bitcoin holds the throne of cryptocurrencies, its hard-forks are also no less profitable assets. Bitcoin Cash, the spin-off inaugurated in 2017, is peer-to-peer electronic cash with an easy to claim procedure.

If you are wondering where to buy bitcoin cash or how do I buy bitcoin cash, here is a simple guide. 

How to buy bitcoin cash

Create a BCH wallet

First of all, claiming a cryptocurrency demands the possession of a crypto wallet. The modes of holding a digital coin vary depending on the wallet in use. You can store your cryptocurrency in a hardware wallet, paper wallet, or a suitable mobile wallet. Once you have your wallet, you will need your Bitcoin Cash address. A new format was invented for Bitcoin Cash called “Cash Address,” 42 characters extended code. 

Where to buy bitcoin cash

A number of exchanges have extended their services to solve your dilemma of querying where can I buy bitcoin cash. Once you hold a wallet, you next need to look for an exchange that supports BCH. Renowned trading platforms, including CoinbaseBinance, allows you to buy bitcoin cash in exchange for USD or other crypto coins like Bitcoin or Ethereum. Also, some exchanges assist in the rapid purchase through the allowance of credit or debit card usages.

Parallelly, you can also obtain BCH through Over the Counter (OTC) traders, who trade the digital asset for fiat money. Furthermore, Bitcoin Cash ATMs have been established to ease the process in many countries.

Along with BCH, BTC has also evolved in the methods of its purchase. While online trade is an exceptional and most used path, buying bitcoin with cash is considered to be a more reliable and secure method that prevents your identity and carries negligible rates of fraud.

How to buy bitcoin with cash

When you purchase virtual currencies through exchanges, you are bound to provide the personal details to fulfill the required KYC norms; but, when you commence trade with an independent seller, your transaction is more anonymous. Several websites like LocalBitcoins, Bitquick, Paxful, etc. are available that connect you to independent dealers who use the P2P platform to complete the trade. To begin, you commonly have to create an account on the network, verify your details comprising E-mail and mobile number, and select cash as the payment method. Also, always make sure to enable two-factor authentication. As you search, a list of traders will appear to help you choose the most reliable. Besides, Bitcoin ATMs are also available to support buying BTC with cash. 

Recently, the San Francisco based payment company, Square, released the Cash app for bitcoin deposits.

How to buy bitcoin with Cash App

The App launched has made it easy to buy and sell BTC direct from the Cash App balance. Unlike other apps, the trade is performed in seconds, and you can even spend your proceeds from a free Visa debit card. Cash App users can deposit bitcoins from external wallets into their app bitcoin addresses. Also, deposits are limited to $10,000 worth of bitcoin in seven days.

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