BCH eases below $300 psychological level but bulls are still firmly in control unless ...
bulls seem fixated on not letting the King coin slide below $30k. BTC has been oscillating between $30k – $31.5k for about three weeks . Whether Bitcoin Cash will follow BTC’s cue and chalk a range-bound extension was unclear.The $261 support was significant because it was also a safe landing for bulls in Q1 2022. So, bulls could be adamant about letting go, lest they expose recent gains to likely losses. The technical indicators also signaled that bulls still had the upper hand.
For example, the Relative Strength Index eased slightly but was still within the overbought territory. Similarly, the On Balance Volume was still edging higher, albeit sluggishly, reinforcing buying pressure, and demand remained. So, BCH bulls could attempt to reclaim or clear the recent high of $329, but they’ll have to close above $300 to realize their targets.
The first sign of worry for BCH bulls will be a crack of the $261 support. Such a scenario could expose BCH to likely losses and devaluation towards $222.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Department of Agriculture to invest $300-million in monitoring emissionsThe investment is designed to improve reporting of planet-warming emissions by the country’s agriculture and forestry sectors
Read more »
Why Bitcoin bulls should be excited about a price drop below $30kIf you are a long-term investor in Bitcoin, you need not be worried about the price drops as the trend remained in bullish favor.
Read more »
Bitcoin holds firm at $30,000: Evidence of BTC re-accumulation?Bitcoin holds firm at $30,000: Evidence of BTC re-accumulation?
Read more »
’Guns and gangs’: Tsuut'ina Nation gets federal cash for gang suppressionTsuut\u0027ina Nation is to receive funding to help deal with a sharp increase in crime and develop anti\u002Dgang programming.
Read more »
’Guns and gangs’: Tsuut'ina Nation gets federal cash for gang suppressionTsuut\u0027ina Nation is to receive funding to help deal with a sharp increase in crime and develop anti\u002Dgang programming.
Read more »
Oak Bay resident out nearly $13,000 through scam: policeAn Oak Bay resident lost $12,800 after falling victim to a phone scam where they were asked to deposit cash into multiple Bitcoin ATMs.
Read more »