{"id":30570,"date":"2023-10-05T05:52:39","date_gmt":"2023-10-05T09:52:39","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30570"},"modified":"2023-10-05T05:52:39","modified_gmt":"2023-10-05T09:52:39","slug":"bitcoin-cash-price-wont-go-down-quietly-risk-of-bounce-grows","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/05\/bitcoin-cash-price-wont-go-down-quietly-risk-of-bounce-grows\/","title":{"rendered":"Bitcoin Cash Price Won\u2019t Go Down Quietly \u2013 Risk of Bounce Grows"},"content":{"rendered":"

Bitcoin Cash price is holding the key $220 support against the US Dollar. BCH seems to be aiming for a fresh increase unless there is a move below $220.<\/em><\/p>\n

Bitcoin cash price is showing positive signs above the $220 level against the US Dollar.
\nThe price is trading above $220 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a move below $220.<\/p>\n

Bitcoin Cash Price Holds Support<\/h2>\n

In the past few days, Bitcoin Cash price saw a steady decline from the $255 resistance zone. BCH declined below the $240 support to enter a short-term bearish zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price declined below the 50% Fib retracement level of the upward move from the $203 swing low to the $255 high. Besides, there was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH\/USD pair.<\/p>\n

However, the bulls were active above the $220 support. The price found support near the 61.8% Fib retracement level of the upward move from the $203 swing low to the $255 high.<\/p>\n

Bitcoin Cash is now trading above $220 and the 100 simple moving average (4 hours). Immediate resistance is near the $236 level. The next major resistance is near $244. Any further gains could lead the price toward the $250 resistance zone.<\/p>\n

<\/a><\/p>\n

Source: BCH\/USD on TradingView.com<\/a><\/p>\n

The next major hurdle is near the $262 level, above which BCH might start a decent increase toward the $280 level or $288 in the coming days.<\/p>\n

Downside Break in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $244 resistance, it could start a fresh decline. Initial support on the downside is near the $225 level.<\/p>\n

The next major support is near the $220 level, where the bulls are likely to appear. If the price fails to stay above the $220 support, the price could test the $212 support. Any further losses could lead the price toward the $200 zone in the near term.<\/p>\n

Technical indicators<\/p>\n

4-hour MACD \u2013 The MACD for BCH\/USD is losing pace in the bullish zone.<\/p>\n

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently below the 50 level.<\/p>\n

Key Support Levels \u2013 $225 and $220.<\/p>\n

Key Resistance Levels \u2013 $236 and $244.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin Cash price is holding the key $220 support against the US Dollar. BCH seems to be aiming for a fresh increase unless there is a move below $220.<\/em><\/p>\n

Bitcoin cash price is showing positive signs above the $220 level against the US Dollar.
\nThe price is trading above $220 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a move below $220.<\/p>\n

Bitcoin Cash Price Holds Support<\/h2>\n

In the past few days, Bitcoin Cash price saw a steady decline from the $255 resistance zone. BCH declined below the $240 support to enter a short-term bearish zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price declined below the 50% Fib retracement level of the upward move from the $203 swing low to the $255 high. Besides, there was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH\/USD pair.<\/p>\n

However, the bulls were active above the $220 support. The price found support near the 61.8% Fib retracement level of the upward move from the $203 swing low to the $255 high.<\/p>\n

Bitcoin Cash is now trading above $220 and the 100 simple moving average (4 hours). Immediate resistance is near the $236 level. The next major resistance is near $244. Any further gains could lead the price toward the $250 resistance zone.<\/p>\n

<\/a><\/p>\n

Source: BCH\/USD on TradingView.com<\/a><\/p>\n

The next major hurdle is near the $262 level, above which BCH might start a decent increase toward the $280 level or $288 in the coming days.<\/p>\n

Downside Break in BCH?<\/h2>\n

If Bitcoin Cash price fails to clear the $244 resistance, it could start a fresh decline. Initial support on the downside is near the $225 level.<\/p>\n

The next major support is near the $220 level, where the bulls are likely to appear. If the price fails to stay above the $220 support, the price could test the $212 support. Any further losses could lead the price toward the $200 zone in the near term.<\/p>\n

Technical indicators<\/p>\n

4-hour MACD \u2013 The MACD for BCH\/USD is losing pace in the bullish zone.<\/p>\n

4-hour RSI (Relative Strength Index) \u2013 The RSI is currently below the 50 level.<\/p>\n

Key Support Levels \u2013 $225 and $220.<\/p>\n

Key Resistance Levels \u2013 $236 and $244.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-30570","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=30570"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30570\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30570"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}