Bitcoin Cash struggles with the selling pressure at $280 after a shallow recovery from the dip to $269.51. The selling activities in the market are highlighted by the RSI within the oversold and the MACD under the midline. Bitcoin Cash has continued to record lower highs following the rejection the bulls suffered at the beginning of August, close to $340. A descending trendline has remained intact for the second week in a row as well. Support at $300 seems to have the potential to hold from the weekend session but this week’s trading has been dominated by increased selling activities. The biggest blow was the drop under the 50 SMA as it added gasoline to the fire. BCH spiraled to only to find support at $269.51. A minor recovery took place with the price reclaiming the position above $270 and extending the upper leg towards $380. BCH/USD is trading at $278 at the time of writing. The trend is still bearish in spite of the shallow recovery witnessed. A glance at the technical levels shows that indeed BCH/USD is in the hands of the bears, at least for the short term. The RSI has retreated into the oversold further highlighting the bearish grip. Similarly, the MACD is dipping deeper into the negative region. The wide bearish divergence from the MACD says that selling activities will continue in the near term. For now, the main focus is to step above the resistance at $280. This way buyers will be able to shift the attention back to $300. On the downside, support at $270 is key to the uptrend likely to be nurtured above $300 otherwise the lack of it means that breakdown to $260 will become apparent. BCH/USD 240’ 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/USD seen rangebound between 1.1600/1.1880 – UOB FX Street 2 years Bitcoin Cash struggles with the selling pressure at $280 after a shallow recovery from the dip to $269.51. The selling activities in the market are highlighted by the RSI within the oversold and the MACD under the midline. Bitcoin Cash has continued to record lower highs following the rejection the bulls suffered at the beginning of August, close to $340. A descending trendline has remained intact for the second week in a row as well. Support at $300 seems to have the potential to hold from the weekend session but this week’s trading has been dominated by increased selling activities.… 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.