Bitcoin Cash: The odd man out
- BCH the lone loser in a green weekend trading.
- Cooled off sooner than the pack which is still attacking.
Bitcoin Cash, the crypto that once aimed to outpace its largest peer Bitcoin, has cooled off sooner than the rest and is the only loser on a day when all the others are in the green, in a sign that the bulls are tired, although not out.
BCH/USD is trading just under two percent lower on day at $192.25, while range for the day has been quite high so far - nearly six percent. On the 180-minute chart of BCH, it retracted from descending trendline earlier this week, the level that co-incided with 50 days EMA. Overbought RSI on the 180 also caused the cool off.
Given the thin holiday season, chances are BCH bulls should be able to pounce back up and regain some more lost ground, at least towards $220 to try and cross past the very resistance it retracted from.
BCH/USD 180-minute chart:
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Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
