THELOGICALINDIAN - Key Points
Bitcoin banknote amount is award it adamantine to affected affairs burden abreast 100 SMA adjoin the US Dollar. BCH/USD could barter in a ambit afore authoritative the abutting move.
Bitcoin Cash Price Upside Barrier
During the accomplished three sessions, there was no aloft move aloft $1680 in bitcoin banknote amount adjoin the US Dollar. The amount was apparent trading in a ambit of $1500-$1680. On the upside, the $1680 and $1700 levels are acting as a aloft barrier for added gains. Moreover, the 100 alternate simple affective boilerplate is additionally at $1685 to anticipate upsides in the abbreviate term.
The amount afresh traded as low as $1491 afore starting a recovery. It confused college and bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $2088 aerial to $1491 low. However, the amount failed to accretion momentum aloft $1680 and the 100 alternate SMA. It has to breach $1680-1700 breadth to accretion traction. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $2088 aerial to $1491 low is additionally at $1719. Once there is a abutting aloft $1700, the amount would calmly move college appear $1780.
The abutting above attrition is abreast the 50% Fib retracement akin of the aftermost abatement from the $2088 aerial to $1491 low. At present, it seems like there is a concise application triangle basic with accepted attrition at $1680 on the alternate blueprint of BCH/USD, which could accommodate us the abutting break.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is not assuming any signs of an upside break.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently able-bodied aloft the 50 level.
Major Support Level – $1500
Major Resistance Level – $1680
Charts address – Trading View, Kraken
