{"id":910932,"date":"2026-06-06T16:12:20","date_gmt":"2026-06-06T21:12:20","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/06\/bitcoin-cash-fails-at-478-but-can-bch-bulls-defend-406-next\/"},"modified":"2026-06-06T16:12:20","modified_gmt":"2026-06-06T21:12:20","slug":"bitcoin-cash-fails-at-478-but-can-bch-bulls-defend-406-next","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/06\/bitcoin-cash-fails-at-478-but-can-bch-bulls-defend-406-next\/","title":{"rendered":"Bitcoin Cash fails at $478 \u2013 But can BCH bulls defend $406 next?"},"content":{"rendered":"

Bitcoins <\/p>\n

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Bitcoin Cash [BCH] was only down by less than 1% over the past week, and has shed only 1.25% over the past month. It has underperformed Bitcoin [BTC], which has rallied 7.5% in a week and was up by just over 1% in 30 days.<\/p>\n

This relative weakness of Bitcoin Cash indicated a lack of market belief, but on the surface, it looks harmless.<\/p>\n

However, its price action in April has been illuminating. In the battle between bulls and bears, one side was clearly winning.<\/p>\n

Bitcoins Spoiler alert, it\u2019s not the Bitcoin Cash bulls<\/h2>\n
\"bitcoins<\/a>
Source: BCH\/USDT on TradingView<\/figcaption><\/figure>\n

Since February 2024, Bitcoin Cash<\/a> has been trading within a range (purple) from $272 to $685. The altcoin has tried, and failed, to reach the range highs thrice since December 2024.<\/p>\n

In 2025, the mid-range support at $478 acted as support multiple times. Over the past month, it has been tested as a resistance. The failure to break beyond this level<\/a> during the mid-March crypto rally confirmed that bears were in control.<\/p>\n

The $443 low from the October crash was being retested as resistance at the time of writing. Further price losses will likely arrive in the coming months.<\/p>\n

Long-term investors can wait for a drop below $300 before looking to buy BCH.<\/p>\n

Bitcoins Traders\u2019 call to action- Is it time to sell now?<\/h2>\n
\"bitcoins<\/a>
Source: BCH\/USDT on TradingView<\/figcaption><\/figure>\n

The 4-hour chart showed a bearish swing structure. The short-term range between $448 and $484 was breached at the start of April. The range lows were being retested as resistance at the time of writing.<\/p>\n

Moreover, using the H4 swing move downward, a set of Fibonacci retracement levels (cyan) was plotted.<\/p>\n

The 50% level at $449.2 has been tested, and the price was beginning to fall lower from there.<\/p>\n

There is a chance the current bounce could extend toward $455-$465.<\/p>\n

However, the direction of the trend was bearish, and Bitcoin Cash traders need to prepare for a price drop in the coming weeks.<\/p>\n

The Fibonacci extension levels showed that $406 and $385 were the next bearish price targets.<\/p>\n

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Bitcoins Final Summary<\/h2>\n