- Bitcoin Cash remains vulnerable to further downside pressure. Next support eyed at $105 and then $73.50.
- OKEx exchange have announced their support for BCH margin trading via their platform.
The Bitcoin Cash price, like the rest of the market, has been subject to hard selling. BCH/USD has taken a beating by the bears over the past two trading sessions. A large wave of pressure unexpectedly to the downside rippled across cryptocurrencies on 10th January. BCH/USD fell a chunky 20%, moving to the lowest levels seen since 19th December, during the most recent bull run.
Coinciding with that move south, there had been a rejection for the bulls, after meeting some known resistance. A descending trend line can be seen running from 6th November 2018, when the market picked up pace in the direction south. Given that latest failure to break above, this stacks the odds further in the favor of the market bears.
OKEx Support BCH Margin Trading
Earlier in the week, OKEx, one of the leading global cryptocurrency trading platforms, announced they are now supporting BCH margin trading. OKEx detailed in their recent blog post, margin trading of Bitcoin Cash will be paired against Tether (USDT) and Bitcoin (BTC). Users will be able to trade BCH/USDT and BCH/BTC with 3x leverage. The exchange is also looking to to adjust the margin borrow limits.
Binance’s Trust Wallet Supports Bitcoin Cash
Trust Wallet this week announced that they are adding Bitcoin Cash support to its Android application. In addition, support was also added for Litecoin (LTC) and Bitcoin for all its users. Elsewhere, further insight from the development team, Trust Wallet will be supporting several additional coins to come.
BCH/USD daily chart.