fbpx

Register for MT4 Demo Account

Register for xStation Account

Bitcoin Cash (BCH) Leads the Game Now; Followed by Ethereum

By Research Team Thursday, May 6, 2021
BTC/USD

    • 3.08pm ISTD1
    • High57647.16
    • Low56448.25
    • Close57317.8

BTC/USD is trading at $57123.8, 0.17% up since previous day close. An upside resumed in Bitcoin making an engulfing bullish candle with higher levels of $58K. Earlier in a week, the BTC/USD slid down till $52000 as investors remain cautious towards crypto trading with a concern over rising taxation rate in U.S. Also, the major Altcoins like Ethereum & Dogecoin outshined the Bitcoin rally which forces traders to shift their funds more to Altcoins. Last week, the BTC/USD moved down after U.S President Joe Biden proposed to raise the taxation rate to 40% for the wealthiest Americans to meet the social expenses. Buying on corrective dips may be suggested for the day in BTC/USD.

Read More… Read Less

CryptoCurrency

BTC/USD

Intra Day
Near Day

Technical Levels

R3 65867
R2 60895
R1 58870
Turnaround 55923
S1 53899
S2 50951
S3 45979
By Research Team Thursday, May 6, 2021
BCH/USD

    • 3.25pm ISTD1
    • High1476.04
    • Low1270.61
    • Close1350.26

BCH/USD is trading at $1351.89, 0.32% up since the previous day close. A strong breakout can be seen in Bitcoin Cash (BCH) above $1000 mark as Altcoins are outweighing the Bitcoin momentum amid an increase in awareness & investment options apart from other global instruments. Making digital currencies as a payment option by many western companies further boosted the prices. Uncertain equity markets amid rising inflation fear raise the investment in digital assets. Earlier, the U.S Biden proposed to raise tax rate for the wealthiest Americans to 40% which dragged down the BCH/USD to some extent. Strong buying on retracement may be recommended for the day in BCH/USD.

Read More… Read Less

CryptoCurrency

BCH/USD

Intra Day
Near Day

Technical Levels

R3 2285
R2 1781
R1 1612
Turnaround 1277
S1 1108
S2 773
S3 269
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2023 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UK: +44 20 38355241 | Dubai: +971 54 339 3959 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.