Bitcoin Cash (BCH) slipped below the $230-$250 range on May 21 but the bears have not been able to capitalize on the breakdown. This suggests a lack of selling at lower levelsIf successful, the price might remain stuck between $230-$250 once again.
Conversely, if the BCH/USD pair turns down from the moving averages, the bears might make one more attempt to sink the price to $200.
Buying opportunities could open up if the pair bounces off $200 or breaks out and sustains above $280.47. Until then, the traders can wait on the sidelines.