Cryptocurrencies continue to trade in intense selling pressure. As for Bitcoin Cash, pressure on key support is putting support areas such as $210 and $200 in jeopardy. The impressive correction above $220 failed to take the price action above $230. Instead, Bitcoin Cash formed a high around $227, later giving way to the ongoing retracement.<\/p>\n
The break below the shallow short-term rising wedge pattern is also contributing to the dire declines experienced on Sunday. BCH is trading 3.4% lower on the day while the volatility expands. The price is also beneath the 50 SMA on the 4-hour chart.<\/p>\n
If the support at $210 gives in, Bitcoin Cash could smash through the next support at $200. The region between $190 and $200 continues to be the saving grace for BCH, especially with heavy buyer congestion.<\/p>\n
The RSI and the MACD show that the bears are bound to get more ruthless in the coming sessions. It is likely that Bitcoin will have a drab start for the week that begins on Monday.<\/p>\n
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Bitcoin Cash Price Analysis: BCH\/USD ruthless bears gnaw the price towards $200 - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Cryptocurrencies continue to trade in intense selling pressure. As for Bitcoin Cash, pressure on key support is putting support areas such as $210 and $200 in jeopardy Continue reading