Bitcoin Cash recovers above $230 but fails to sustain gains towards $240. BCH/USD upside is limited by the 50 SMA culminating in a 0.5% loss during the Asian session on Wednesday. Bitcoin Cash is trading side by side the other major cryptocurrencies. Choppy markets have become the norm this week except for Bitcoin (BTC), which not only broke above the resistance at $9,000 but also closed in on the next hurdle at $9,300. BCH/USD continues with the struggle to sustain the uptrend. The break above the key descending triangle opened the door for gains above $230. Very little progress has been made towards the next important zone at $240. Instead, the price has stalled at the 50 SMA in the 4-hour range. BCH/USD is exchanging hands at $231 while the bulls try to hold onto the support at $230. Looking at the applied technical indicators, Bitcoin Cash is unlikely to continue with the uptrend in the near term. What is likely is a consolidation period above $230. This will give the buyers ample time to gather the strength they need for gains towards $240 and $250 respectively. The RSI is moving sideways after stalling at 55 while the MACD shows that buyers have more influence over the price, although they lacked a catalyst to sustain the break above the trendline resistance. 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 Effect of negative interest rates on economies is complex and result for FX is unclear – HSBC FX Street 3 years Bitcoin Cash recovers above $230 but fails to sustain gains towards $240. BCH/USD upside is limited by the 50 SMA culminating in a 0.5% loss during the Asian session on Wednesday. Bitcoin Cash is trading side by side the other major cryptocurrencies. Choppy markets have become the norm this week except for Bitcoin (BTC), which not only broke above the resistance at $9,000 but also closed in on the next hurdle at $9,300. BCH/USD continues with the struggle to sustain the uptrend. The break above the key descending triangle opened the door for gains above $230. Very little progress has… 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.
