The Bitcoin Cash price is paring some of the losses it made during the American and Asian sessions.
What happened: Bitcoin Cash, like other altcoins, has a close correlation with Bitcoin.
And in the overnight session, Bitcoin declined as more investors rotated from BTC to Ethereum.
So, what next for BCH price? In my view, this trend in May will depend on the overall BTC movement.
Also, the price is between the 25-day and 50-day moving averages while the Relative Strength Index has moved below the ascending trendline.
Therefore, in my view, we will likely see more BCH weakness in the near term.
Crispus graduated with a Bachelor’s of Science in 2013, an MBA in 2017, and is currently working on an MSc in Financial Engineering from WorldQuant University.
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