Bitcoin Cash staged a recovery from the recent $217 lows but stalled at $250. The RSI momentum suggests that bears will have the last laugh as BCH dives under $200 major support level. Bitcoin Cash tried and failed to smash through the key resistance at $250. The zone is highlighted by the 50% Fib resistance level taken between the last swing high of $270 to ma swing low of $217. The rejection at $250 is forcing BCH into lower levels between $230 and $220. Other than the Fib level, the trendline, the 50 SMA and the 100 SMA on the 1-hour chart are also forcing Bitcoin Cash into critical support zones. The price is doddering at $226 and is aiming for the support at $200 if $220 fails to hold. The Moving Average Convergence Divergence, however, displays a positive picture for BCH. The bullish cross signals higher buying influence. The MACD’s slope upwards is also reminiscent of the correction from the recent low at $217. On the other hand, the Relative Strength Index displays a different picture having been rejected at 50 and grinding towards 30. If the gradual slope downwards continues, Bitcoin Cash is likely to revisit not only the recent low but also the major support between $220 and $197. 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 Cryptocurrencies price prediction: Bitcoin Cash, Ripple & Litecoin – Asian Wrap 22 Nov FX Street 3 years Bitcoin Cash staged a recovery from the recent $217 lows but stalled at $250. The RSI momentum suggests that bears will have the last laugh as BCH dives under $200 major support level. Bitcoin Cash tried and failed to smash through the key resistance at $250. The zone is highlighted by the 50% Fib resistance level taken between the last swing high of $270 to ma swing low of $217. The rejection at $250 is forcing BCH into lower levels between $230 and $220. Other than the Fib level, the trendline, the 50 SMA and the 100 SMA on the… 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.
