Bitcoin Cash (BCH) is presently having a hard time to break through the golden ratio resistance level. If it effectively exceeds this resistance, there’s capacity for a bullish breakout in the BCH cost.
The rate of Bitcoin Cash changes in between the golden ratio assistance and golden ratio resistance levels. Regardless of these changes, a bullish breakout has actually not yet emerged.
Bitcoin Cash Struggles to Surpass $270 Golden Ratio Barrier
The rate of Bitcoin Cash is presently dealing with difficulties in going beyond the golden ratio resistance, situated around at $270. Just recently, BCH experienced a bearish rejection at this level.
In the everyday chart, the Moving Average Convergence Divergence (MACD) pie chart is trending downwards, indicating a bearish pattern. The MACD lines are still in a bullish crossover, and the Relative Strength Index (RSI) is neutral, showing combined signals.
Bitcoin Cash is discovering short-term assistance at around $249.6. Must this level be breached, the next assistance is anticipated at the 50-day Exponential Moving Average (EMA), around $234.6. In case of additional decrease, substantial Fibonacci (Fib) assistance for BCH is prepared for at the golden ratio level, around $200.
Bitcoin Cash (BCH) Price Chart. Source: Tradingview
Regardless of the existing difficulties,
