THELOGICALINDIAN - Key Points
Bitcoin banknote amount is advancing for the abutting breach aloft $2800 adjoin the US Dollar. BCH/USD has a acceptable abutment on the downside at $2350.
Bitcoin Cash Price Support
There were mostly ambit moves in bitcoin banknote amount this accomplished anniversary aloft the $2350 abutment adjoin the US Dollar. The amount biconcave on a few occasions and activated the $2300 and $2200 abutment levels. However, the downside move was able-bodied accurate with axis as $2350. On the upside, the amount struggled to breach the $2700 and $2800 attrition levels.
The aftermost dip was able as the amount confused beneath the $2200 akin and traded as low as $1999. Later, the amount recovered acutely and confused aback aloft the $2400 level. The upside move was appropriate and the amount was able to abutting aloft $2500 and the 100 simple affective boilerplate (4-hours). Moreover, it is now aloft the 50% Fib retracement akin of the last decline from the $2948 aerial to $1999 low. It seems like there is a above application triangle basic with attrition at $2800 on the 4-hours blueprint of BCH/USD.
The brace may abide to barter in a ambit aloft $2350. However, it needs to breach either the $2800 attrition or breach $2350 for the abutting move. Aloft $2800, the amount could advance aloft the $3000 akin in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is hardly placed in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is still aloft the 50 level.
Major Support Level – $2350
Major Resistance Level – $2800
Charts address – Trading View, Kraken
