Bitcoin Cash smashes through $220 critical level to test the support zone between $213 and $215. The MACD’s improving positive divergence signals a growing bullish momentum. Bitcoin Cash could no longer defend that support discussed on Wednesday at $220. As predicted in the price analysis, a break under the support tested the next target support around $215. Moreover, Bitcoin Cash bears extended the action to a low of $213. Meanwhile, Bitcoin Cash is trading at $215 following a shallow recovery. Pressing down on the price is the descending trendline resistance. The 50 Simple Moving Average (SMA) on the one-hour chart crossed below the longer-term 100 SMA suggesting that a lower consolidation should be expected. The widening gap between the SMAs emphasizes that the bears have control over the price. The downtrend seen with the Relative Strength Index (RSI) is giving sellers confidence to increase their entries. The RSI is almost hitting levels under 30 to show that a reversal is imminent from the oversold conditions. The Moving Average Convergence Divergence (MACD) signals a growing bullish momentum in the near-term, unlikely to push the price above the trendline resistance. BCH/USD one-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 Bitcoin inheritance made possible with Casa Covenant FX Street 4 years Bitcoin Cash smashes through $220 critical level to test the support zone between $213 and $215. The MACD's improving positive divergence signals a growing bullish momentum. Bitcoin Cash could no longer defend that support discussed on Wednesday at $220. As predicted in the price analysis, a break under the support tested the next target support around $215. Moreover, Bitcoin Cash bears extended the action to a low of $213. Meanwhile, Bitcoin Cash is trading at $215 following a shallow recovery. Pressing down on the price is the descending trendline resistance. The 50 Simple Moving Average (SMA) on the one-hour chart… 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.
