THELOGICALINDIAN - Key Points
Bitcoin banknote amount has recovered accurately aloft $1600 adjoin the US Dollar. BCH/USD charge bright the $2200-2300 hurdle for added assets in the abreast term.
Bitcoin Cash Price Resistance
This accomplished week, there was a accretion initiated bitcoin banknote amount from the $1500 beat low adjoin the US Dollar. The amount confused college and was able to barter aloft the $1700 and $1800 attrition levels. There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost bead from the $2960 aerial to $1340 low. It opened the doors for added assets and the amount was able to move aloft the $1900 level.
During the upside move, there was a breach aloft a above bearish trend band with attrition at $1800 on the 4-hours blueprint of BCH/USD. It helped buyers in blame the amount against $2024. However, there is a acute attrition about the $2200 and $2300 level. Both $2200 and $2300 levels provided abutment earlier, and now they may act as a resistance. Moreover, the 50% Fib retracement akin of the aftermost bead from the $2960 aerial to $1340 low is about $2150.
All these resistances are above barriers for an upside advance against $2500. On the downside, there are a few supports such as $1800. $1600 and $1500. Any downside acknowledgment will best acceptable acquisition abutment at $1500.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is boring affective in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now aloft the 50 level.
Major Support Level – $1500
Major Resistance Level – $2200
Charts address – Trading View, Kraken
