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BCH is in a downward move, may reach the low $265
The uptrend is likely to resume
Cash BitCoin (BCH) Current statistics
In current price: $ 261.90
Forum Capitalisation: 4,859,529,239 $
Latin Edition Trading: 2,424,325,376 $
Major copia zonae: $ CCCXXV,: $ CCCL: $ CCCLXXV
Demanda major plaga: $ 200, 175 $, $ 150
Cash BitCoin (BCH) Price Analysis August XXVI, MMXX
For the past 24 hours, BCH has been on a downward move after failing to break the $280 overhead resistance. A break above the overhead resistance would have catapulted the coin to rally to $300 or $320 high. Presently, the crypto is falling after the rejection from the recent high. If price retraces and finds support above $250, the upside momentum will resume. However, if the bears break below $250 support the coin will resume a downward move. The coin is trading at $262 at the time of writing.
Cash BitCoin Technical lectio Indicatores
The crypto is below the 80% range of the daily stochastic. It indicates that the coin is in a bearish momentum. Sellers are emerging to push prices down. The coin was earlier in the overbought region of the market.
Conclusio
Bitcoin Cash is on a downward move after the coin was resisted at the $280 overhead resistance. On the current downward move, a retraced candle body on October 25, tested the 78.6% Fibonacci retracement level. This retracement indicated that the selling pressure will be exhausted at level 1.272 Fibonacci extension or the low of $265.81. Later the market will reverse.
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