Bitcoin Cash Bearish Trend Intensifies

Bitcoin Cash (BCH) has been struggling to recover from its fall below $272 in May, a level it had maintained for over two years. The altcoin's relative strength against Bitcoin (BTC) also evaporated in May, with BCH shedding nearly 42% that month and continuing into June.

The downward momentum picked up significantly in May, with the Money Flow Index (MFI) dropping from 49.8 to 14.64 by the third week of June, indicating incessant selling pressure. The Chaikin Money Flow (CMF) also slid below -0.05, further supporting this assessment.

Despite some bullish signs on lower-timeframe charts, including a bullish swing structure on the 4-hour chart and dominant buying pressure as indicated by the CMF at +0.12, the bearish momentum is likely to continue pushing BCH below $200.