BCH–USD daily chart.

BCH–USD daily chart.

Gate Trade BCH Tuesday, April 14, 2020 697 0

Bitcoin Cash (BCH) dropped below the 20-day EMA on April 10 and the attempts by the bulls to push the price back above it failed on April 11 and 12. As a result, the bears have resumed their selling.

Both the moving averages are sloping down and the RSI has also dipped into the negative zone, which suggests that bears have the upper hand.

 

The next support on the downside is $200 and if this level also cracks, the decline can extend to $166. Therefore, the stops on the long positions can be kept at $197.