{"id":62712,"date":"2023-08-30T16:08:50","date_gmt":"2023-08-30T16:08:50","guid":{"rendered":"https:\/\/coinjournal.net\/news\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/"},"modified":"2023-08-30T16:08:50","modified_gmt":"2023-08-30T16:08:50","slug":"bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/","title":{"rendered":"Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220"},"content":{"rendered":"\n<ul>\n<li dir=\"ltr\">Bitcoin Cash price is down 5% on the day after rising 21% on Tuesday as Grayscale news helped push BCH to above $228.&nbsp;<\/li>\n<li dir=\"ltr\">Sellers could push the altcoin&#8217;s price lower amid broader market&#8217;s profit taking deals.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-cash\/\">Bitcoin Cash<\/a> (BCH) was one of the biggest gainers Tuesday after crypto surged on news of Grayscale&#8217;s court victory against the US Securities and Exchange Commission (SEC).<\/p>\n<h2 dir=\"ltr\">Bitcoin Cash paring gains after huge spike<\/h2>\n<p dir=\"ltr\"><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/tag\/bch\/\">BCH<\/a> rose to $228, rising a notable 21% on the day as the market repriced news of a Bitcoin ETF approval. The altcoin ended the day 18% up. Santiment <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1696665294108766417\">shared<\/a> the chart below showing BCH led the crypto spike.<\/p>\n<p dir=\"ltr\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#128202; After the news of <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw\">#Grayscale<\/a>&#8216;s victory over the <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/SEC?src=hash&amp;ref_src=twsrc%5Etfw\">#SEC<\/a> quickly lifted <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> markets, the biggest notable beneficiary actually has turned out to be <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BitcoinCash?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinCash<\/a>, due to its increased exposure. This phenomenon was similar to what we saw in mid-June when the <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETF?src=hash&amp;ref_src=twsrc%5Etfw\">#ETF<\/a> news was first <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/t.co\/HzEEEqZqIt\">pic.twitter.com\/HzEEEqZqIt<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1696665294108766417?ref_src=twsrc%5Etfw\">August 29, 2023<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p dir=\"ltr\">Bitcoin Cash is however trading 5% down on the day as can be seen in the chart below. Sellers appear to be taking control after rejection at the critical horizontal level that also marked the point of further downward moves in mid-August.<\/p>\n<p dir=\"ltr\">The daily chart shows price is above the 100 SMA, which provides support near $198. The daily RSI is also still above the 50 mark. However, it&#8217;s beginning to slant to suggest possible selling pressure. Key price levels to watch are $183 and $252.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/07\/30\/1693410919322-b6282358-12b2-4496-964d-41093c0f7561.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"267\"><span class=\"fr-inner\">Bitcoin Cash price chart. Source:&nbsp;<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/G0XpMiyO\/\">TradingView<\/a><\/span><\/p>\n<\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">Bitcoin Cash price also <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/heres-why-the-bitcoin-cash-bch-price-has-just-gone-parabolic\/\">jumped in June<\/a> when a host of Wall Street companies looked to embrace crypto with a series of ETF filings.<\/p>\n<\/div>\n<p dir=\"ltr\">At the time, BlackRock-fueled positivity sent Bitcoin to above $31k and Bitcoin Cash rose to above $329 &ndash; partly driven by the unveiling of Fidelity-backed crypto exchange EDX Markets. BCH was one of four crypto assets EDX Markets supported.<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/\">Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"\n<p>Bitcoin Cash price is down 5% on the day after rising 21% on Tuesday as Grayscale news helped push BCH to above $228.&#160; Sellers could push the altcoin&#8217;s price lower amid broader market&#8217;s profit taking deals. Bitcoin Cash (BCH) was one of the biggest gainers Tuesday after crypto surged on news of Grayscale&#8217;s court victory [&#8230;]<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/\">Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":62713,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-62712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220 - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220 - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Cash price is down 5% on the day after rising 21% on Tuesday as Grayscale news helped push BCH to above $228.&#160; Sellers could push the altcoin&#8217;s price lower amid broader market&#8217;s profit taking deals. Bitcoin Cash (BCH) was one of the biggest gainers Tuesday after crypto surged on news of Grayscale&#8217;s court victory [&#8230;] The post Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220 appeared first on CoinJournal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinalsat.com\/en\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\/\" \/>\n<meta property=\"og:site_name\" content=\"CoinAlSat.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/coinalsat1\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-30T16:08:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.igms.io\/2023\/07\/30\/1693410919322-b6282358-12b2-4496-964d-41093c0f7561.png\" \/>\n<meta name=\"author\" content=\"Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/\"},\"author\":{\"name\":\"Author\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/#\\\/schema\\\/person\\\/6fa35040f9ef4ae108188eaeb3ef441b\"},\"headline\":\"Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220\",\"datePublished\":\"2023-08-30T16:08:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/\"},\"wordCount\":337,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/coinalsat.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220.png\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/\",\"url\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/bitcoin-cash-price-outlook-sellers-pounce-after-bch-spike-above-220\\\/\",\"name\":\"Bitcoin Cash price outlook: Sellers pounce after BCH spike above $220 - 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