Bitcoin Cash price rejected at $240 but finds support at $220. BCH/USD is technically ready for a rally above the $240 critical level. Bitcoin Cash epitomized impressive bullish performance on Thursday where the price action shot above $200 for the first time since the catastrophic drop last week. A weekly high has been formed at $239, making $240 an area of interest. At the time of writing, BCH/USD is doddering at $222 after selling pressure took over following the gap left by the bulls on hitting a wall at $240. In spite of the drop, it is apparent that Bitcoin Cash is largely in the hands of the bulls. The RSI, for instance, is still holding the position above 70 in the 4-hour range. A leveling motion would signal that sideways trading could take center stage. The MACD in the same range also shows that buyers have more influence. A bullish divergence above the MACD emphasizes the presence of the bulls on the market. Initial support holds the ground at $220 while $200 would try to stop losses into the $100’s range. To be on the safe side, buyers must strongly defend the $200 support area and pull BCH/USD above $240 (critical zone). Moreover, they must never lose sight of the psychological $300. BCH/USD 4+-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 S. Korea confirms 87 new coronavirus cases, USD/KRW corrective downside intact FX Street 2 years Bitcoin Cash price rejected at $240 but finds support at $220. BCH/USD is technically ready for a rally above the $240 critical level. Bitcoin Cash epitomized impressive bullish performance on Thursday where the price action shot above $200 for the first time since the catastrophic drop last week. A weekly high has been formed at $239, making $240 an area of interest. At the time of writing, BCH/USD is doddering at $222 after selling pressure took over following the gap left by the bulls on hitting a wall at $240. In spite of the drop, it is apparent that Bitcoin Cash… 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.
