Bitcoin Cash resumes the downtrend in the middle of widespread declines in the crypto market. The technical indicators applied spell doom for Bitcoin Cash on the short term. The crypto market is bleeding across the board. Major cryptos like Bitcoin and Ethereum fall overnight while Bitcoin Cash engaged the reverse gear during Wednesday’s European session. From an opening price of $226.97, BCH ascended to an intraday high of $227.76. Lack of action towards $230 (target resistance) armored the bears with the tools of attack. Bitcoin Cash fell sharply to $215 support before making a shallow recovery to $215 (current market value). Meanwhile, the price is digging deeper inside the Bollinger Band curves. The BB four-hour middle failed to offer support but is now hindering upward movement. The wide gap between the upper curve and the lower curves means that volatility is at its peak since Monday. From a technical perspective, Bitcoin Cash is expected to continue languishing in bear pressure. The Relative Strength Index (RSI) dived under the average (50) but stayed above 40. The current sideways movement suggests that Bitcoin Cash will settle in a range. The probable sideways trading is also emphasized by the Moving Average Convergence Divergence (MACD) which is holding above the mean line. BCH/USD four-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 Italy: Fiscal headaches – ABN AMRO FX Street 3 years Bitcoin Cash resumes the downtrend in the middle of widespread declines in the crypto market. The technical indicators applied spell doom for Bitcoin Cash on the short term. The crypto market is bleeding across the board. Major cryptos like Bitcoin and Ethereum fall overnight while Bitcoin Cash engaged the reverse gear during Wednesday's European session. From an opening price of $226.97, BCH ascended to an intraday high of $227.76. Lack of action towards $230 (target resistance) armored the bears with the tools of attack. Bitcoin Cash fell sharply to $215 support before making a shallow recovery to $215 (current market… 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.
