$300 appears to be a credible support but the sustained bearish price action hints further breakdown. The full stochastic signal is strongly bearish with a negative gradient towards the oversold. Bitcoin Cash in on the verge of a massive drop. This follows a failed attempt to break above the resistance at $320. Although $300 appears to be a credible support, the sustained bearish price action hints further breakdown. All short-term technical indicators point towards a gravitating trend in the coming sessions. A glance at both the full stochastic oscillator and the Moving Average Convergence Divergence (MACD) reveals a continuing bearish momentum. The MACD is back in the negative zone after hitting levels at +1.5 on Monday. The increasing bearish divergence suggests that sellers are gaining traction. At the same time, the full stochastic signal is strongly bearish with a negative gradient towards the oversold. A minor positive indicator would be the breakout from the bullish flag pattern on the hourly chart. However, this depends on BCH’s ability to defend $300 support and bounce upwards towards $310. BCH/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/GBP drops to weekly lows near 0.9050 FX Street 4 years $300 appears to be a credible support but the sustained bearish price action hints further breakdown. The full stochastic signal is strongly bearish with a negative gradient towards the oversold. Bitcoin Cash in on the verge of a massive drop. This follows a failed attempt to break above the resistance at $320. Although $300 appears to be a credible support, the sustained bearish price action hints further breakdown. All short-term technical indicators point towards a gravitating trend in the coming sessions. A glance at both the full stochastic oscillator and the Moving Average Convergence Divergence (MACD) reveals a continuing bearish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
