Share this article
Bitcoin Cash Bull Failures Could See Traders Move to Bitcoin
Bitcoin is likely to outperform its rival bitcoin cash in the short-run, the technical charts indicate.
Updated Sep 13, 2021, 7:45 a.m. Published Mar 28, 2018, 1:40 p.m.
Bitcoin may be down 40 percent on a year-to-date basis, but the cryptocurrency still looks set to outshine its rival in the short-term, the technical charts indicate.
As of writing, the bitcoin cash/bitcoin (BCH/BTC) exchange rate is seen a 0.1104 BTC on Bitfinex – the lowest level since March 9. BCH had dropped to a low of 0.10723 BTC on March 7, but defended the falling channel support, as seen on the chart below.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Daily chart
In the subsequent days, the BCH/BTC ratio has regained poise, but the demand for BCH, the world's fourth-largest cryptocurrency by market capitalization, was not strong enough to push through the falling channel hurdle.
The corrective rally ran out of steam at the three-week high of 0.12489 BTC on March 17. Since then, the bitcoin cash bulls have made numerous attempts to scale the falling channel resistance. However, as the chart shows, the resistance proved a tough nut to crack and the BCH/BTC pair ended up creating lower highs along the channel resistance.
Further, BCH/BTC created a "gravestone" doji-like pattern yesterday, signaling that the bulls are leaving the market.
The momentum studies are biased to the bears too, with the 5-day moving average (MA) and 10-day MA both heading south currently. The relative strength index (RSI) has also rolled over into the bearish territory (below 50.00), indicating scope for a further decline in BCH's BTC-denominated exchange rate.
View
The pair looks set to test 0.10723 BTC (March 7 low) and may drop to the falling channel support, currently seen at 0.1018 BTC, meaning traders are likely to jump ship from bitcoin cash to bitcoin.
Only a high volume break above the falling channel resistance would signal a bearish-to-bullish trend change.
Business people crossing image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
BONK jumps more than 10% in 24 hours as momentum pushes price higher
The Solana-based token passed through a key technical level before easing back into consolidation.
What to know:
- BONK rose about 10.6% to trade near $0.00000833, extending a short-term rebound.
- Trading activity increased during the advance, coinciding with a move above $0.00000820.
- The price later pulled back, leaving the token in a consolidation range just below $0.00000840.
Top Stories
