Bitcoin Cash bears stay put: BCH trading starts on Winklevoss twins Gemini

After testing the levels towards $90.00, Bitcoin Cash resumed the uptrend to claim its position above $100. In addition to that, there was a bullish move that saw the asset brush shoulders with $110. However, the bears are not done with Bitcoin Cash yet. The trend turned bearish trimming most of the gains towards $100.

The declines found support at the 23.6% Fib retracement level taken between the last high at $109.58 and lows of $95.31. The price is currently paralyzed between the range limit at $106 (61.8% Fib level) and the range support at the above mentioned 23.6% Fibonacci level.

The $1.8 billion cryptocurrency is still correcting lower on Monday by 3.38%. It has a 24-hour trading volume of $92 million and is currently ranked as the 6^th largest crypto in the market. Its sister token, Bitcoin SV is trading at $98.07 and has a 24-hour trading volume of $62 million. Its market cap has been thinning in the last 24 hours to $1.7 billion. In fact, it has retreated from the 5^th position to the 8^th position according to the data on CoinMarketCap.

The Unites States-based Gemini exchange is reported to be starting both trading and custody services for Bitcoin Cash (BCH). The announcement, made on Friday last week said that the users of Bitcoin Cash will start sending their deposits over the last weekend in readiness for the trading on Monday 10 around 1300 ET. Bitcoin has now become the fifth asset to be supported on the exchange. The other four include, Bitcoin, Ethereum, Litecoin and Zcash. Bitcoin Cash sister chain, Bitcoin SV is yet to be added to the exchange.

"At this time, we will only be providing support for the Bitcoin ABC network and we will be referring to it as Bitcoin Cash with ticker: BCH. We have added replay protection to all BCH withdrawals from the Gemini platform to ensure transactions are only valid on the Bitcoin ABC blockchain. Any cryptocurrency sent to Gemini over a blockchain that we do not support, such as Bitcoin SV (BSV), will be invalid and irrecoverable. We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future," Gemini exchange said in the announcement.

BCH/USD 15’ chart