Bitcoin Cash price analysis: Another crypto that recovered but not enough; India's Supreme Court provides no interim relief to crypto exchanges
|- BCH falls too, inline with major cryptos.
- India's Supreme Court doesn't provide interim injunction to RBI dictat.
BItcoin Cash price is yet another major cryptocurrency that falls in line with other majors even as BCH wasn't able to recover fully from the earlier crash that resulted in prices cracking like nine pins from their December-January highs.
BCH/USD down nearly 3 percent in Saturday trading at $1,328 near day's low of $1,321.156. Among the breakdown stories of all the major cryptos, BCH adds itself as it falls off a rising trendline channel on the 3 hour chart and now risks falling even more as it has also fallen off the 23.6 percent fibonacci retracement level of earlier fall, which was at $1,427 and now becomes stiff resistance to cross.
Among the news that matters, India's Supreme Court provided no interim injunction from the RBI's last month's dictat that banned all the financial intermediaries to facilitate trading in cryptocurrencies. This move affected all the start ups and companies providing cryptocurrency trading and services.
BCH/USD 180-minute chart:
BCH/USD daily chart:
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