Bitcoin Cash analysis: BCH/USD dancing around $1,400 amid ongoing civil war between BTC and BCH supporters
|- Bitcoin supporters initiate legal action against Roger Ver.
- BCH/USD is trading at the technically important level.
The holy war between Bitcoin and Bitcoin Cash supporters is moving beyond social media and crypto forums to the real world. Roger Ver, one of the most argent Bitcoin Cash supporters and owner for Bitcoin.com resource is going to face legal action initiated by Twitter user known as MoneyTrigz, who is also the admin for the CoinTimes magazine and the co-owner of Coindaily.co website. He is accused of using the word "Bitcoin" in relation to another digital coin, that was forked from Bitcoin blockchain in August 2017.
Bitcoin Cash recovered from Thursday's low, but 23.6% Fibo of the decline from $1,406 to $600 effectively caps the upside. The coin has been trying to clear it for five days, though occasional spikes has failed to yield to a sustainable breakthrough so far.
The fourth largest cryptocurrency by market value has gained 21% since the start of the week, but it is still down 41.5% since the beginning of the year. From the long-term perspective, the coin is supported by 200-DMA at $1,300 and by psychological $1,000. On the upside, a move beyond the above said 23/6% Fibo will lead us to April 24 high of $1.576. The next line of resistance is seen at $1,700.
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