Bybit Supports Bitcoin Cash v29.0.0 Upgrade
- Network Upgrade Support: Bybit has announced its support for the Bitcoin Cash (BCH) v29.0.0 network upgrade, ensuring users can continue accessing BCH services during and after the transition, thus preventing potential deposit and withdrawal freezes due to technical changes.
- Importance of Technical Readiness: The upgrade will introduce consensus rule changes and performance improvements, and Bybit's commitment indicates that its infrastructure team has reviewed and prepared the systems, ensuring users do not face service disruptions during the upgrade, thereby enhancing user trust.
- User Considerations: BCH deposits and withdrawals may be temporarily paused around the activation window, and users should monitor Bybit's announcements for specific maintenance timing to ensure trading activities remain unaffected and avoid confusion caused by deposit pauses.
- Wallet Compatibility Check: Users should verify that their external wallet software is compatible with v29.0.0 before sending BCH after the upgrade to prevent transaction failures or delays caused by outdated software, ensuring the safety of their funds.
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Technical Analysis for BCH
Technical Sentiment Analysis for Bitcoin Cash (BCH). As of , Bitcoin Cash (BCH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BCH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BCH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin Cash (BCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 356.993 | 383.797 | 412.793 | 439.597 | 468.593 | 495.397 | 524.393 |
| Fibonacci | 383.797 | 405.112 | 418.281 | 439.597 | 460.912 | 474.081 | 495.397 |
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