{"id":429001,"date":"2020-06-30T05:38:38","date_gmt":"2020-06-30T05:38:38","guid":{"rendered":"https:\/\/wncen.com\/?p=429001"},"modified":"2020-06-30T04:10:40","modified_gmt":"2020-06-30T04:10:40","slug":"bitcoin-cash-reaches-crucial-juncture-230","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-cash\/bitcoin-cash-reaches-crucial-juncture-230\/","title":{"rendered":"Bitcoin Cash Reaches Crucial Juncture: Here\u2019s Why It Could Restart Decline"},"content":{"rendered":"
Bitcoin cash price started an upside correction from the $205 support against the US Dollar. BCH is now facing a strong resistance near the $225 and $230 levels.<\/em><\/p>\n
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Bitcoin cash price is currently correcting higher from the $205 swing low against the US Dollar.<\/li>\n
The price is trading above $220, but the bulls are facing hurdles near $225 and $228.<\/li>\n
There is a crucial bearish trend line forming with resistance near $230 on the 4-hours chart of the BCH\/USD pair (data feed from Kraken).<\/li>\n
The pair must clear the $230 resistance zone to start a fresh increase in the near term.<\/li>\n<\/ul>\n
Bitcoin Cash Price Could Reverse Gains<\/h2>\n
This past week, bitcoin cash price broke the main $225 support level to start a sharp decline. BCH even traded below the $215 support level and settled well below the 100 simple moving average (4-hours)<\/a>.<\/p>\n