The bulls are trying to keep Bitcoin Cash inside the symmetrical triangle. A break down of the triangle and the Sept. 11 intraday low of $408.0182 will resume the downtrend. The next support on the downside is $300.
If the bulls succeed in defending the support line of the triangle, the BCH/USD pair will again attempt to rise to $530.
The 20-day EMA is starting to slope down and the RSI is below 50 levels, suggesting bears have the upper hand. We recommend traders keep a stop of $400 on their long positions.