Bitcoin retreats from pre-halving rally testing the 23.6% support above $220. Sellers remain in control despite the halving; the RSI’s downward movement emphasizes on the on strengthening grip. Bitcoin Cash is in the red on Easter Monday after sellers cut short last week’s momentum towards $300. A new April high was established at $281 and unfortunately marked the end of the halving rally. After the halving, Bitcoin Cash retreated under $250 support. Meanwhile, the price is trading at $226 and holding on to the support by the 23.6% Fibonacci retracement taken between the last swing high at $498.93 to a swing low at $136.71. Meanwhile, Bitcoin Cash is trading below the moving averages in the 4-hour range. Both the 50 SMA and the 100 SMA will now function key resistance levels after they failed to hold as support lines. Looking at RSI, sellers are in control and likely to stay in the driver seat in the next sessions. If the indictor continues to move towards 30 (oversold region), then BTC/USD is expected to retest support at $200. The bearish sentiments are supported by the MACD’s slide into the negative region. For now, the best the bulls can do is to defend the support at the 23.6% Fibo and $220 in order to focus on recovery above $250. BTC/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 Gold sits near 1-month tops, bulls eyeing a move towards $1700 mark FX Street 2 years Bitcoin retreats from pre-halving rally testing the 23.6% support above $220. Sellers remain in control despite the halving; the RSI’s downward movement emphasizes on the on strengthening grip. Bitcoin Cash is in the red on Easter Monday after sellers cut short last week’s momentum towards $300. A new April high was established at $281 and unfortunately marked the end of the halving rally. After the halving, Bitcoin Cash retreated under $250 support. Meanwhile, the price is trading at $226 and holding on to the support by the 23.6% Fibonacci retracement taken between the last swing high at $498.93 to a… 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.
