BCH (Bitcoin Cash) entered the top five market leaders after its price increased by 20% by the end of the trading day on Tuesday. The upward trend is partly due to trading app Robinhood adding BTC to its platform along with Litecoin.
A few months ago, a mobile stock trading app launched a cryptocurrency trading service. The first cryptocurrencies on the platform were Ethereum and Bitcoin, and now, due to growing demand, the company has added Litecoin and Bitcoin Cash. Thus, users will be able to buy and sell all four cryptocurrencies through the app without commission.
In the announcement, Robinhood also said that it plans to expand its coin offering and add a crypto transfer service in the future. Company co-founder Beihu Bhatt previously stated that Robinhood Crypto intends to cover all of the United States by the end of 2018.
This is super positive news for the cryptocurrency market as a whole, which could lead to a temporary bullish reversal in the price of many major cryptocurrencies.
The price of BCH is now following yesterday's price trend of Stellar on the chart. BCH price formed a double bottom on the chart, breaking through the neckline, moving below the daily Ichimoku indicator. If BTC breaks the neckline at $890, a temporary uptrend can be expected. But this may be prevented by the lower band of the Ichimoku indicator. For a longer-term bullish reversal, BTC needs to break through the Ichimoku indicator. At the moment, the second reference level is $909. Resistance levels are 38% and 50%, Fibonacci retracement levels are $1069 and $1203 respectively.
According to nasdaq.com
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