THELOGICALINDIAN - Bitcoin banknote amount is assuming absolute signs aloft the 215 akin adjoin the US Dollar BCHUSD charcoal able-bodied accurate and it could abide to acceleration aloft 225
Bitcoin Cash Price Analysis
After basic a abject aloft the $190 level, bitcoin banknote amount bounced aback aloft the $200 akin adjoin the US Dollar. BCH amount alike climbed aloft $210 and the 55 simple affective boilerplate (4-hours), but it struggled to beat the $215 resistance.
Later, there was a downside correction, but the $200 abutment prevented a bearish break. As a result, there was a beginning access aloft the $210 attrition and the 55 simple affective boilerplate (4-hours).
Moreover, there was a breach aloft a aloft bearish trend band with attrition abreast $212 on the aforementioned chart. Bitcoin banknote amount rallied aloft the $215 and $220 attrition levels, agnate to bitcoin, Ethereum and ripple.
It tagged the $225 attrition breadth and is currently acclimation gains. There was a breach beneath the 23.6% Fib retracement akin of the contempo assemblage from the $203 low to $225 high.
It seems like there is a abbreviate appellation crumbling approach basic with attrition abreast $222 on the alternate blueprint of the BCH/USD pair. If there is an upside breach aloft the approach resistance, the amount could billow aloft the $225 level.
In the mentioned case, the amount is acceptable to ascend appear the $240 and $250 attrition levels. Conversely, the amount may conceivably actual lower in the abreast appellation beneath $218.
The abutting above abutment breadth is abreast the $214 level. It coincided with the 50% Fib retracement akin of the contempo assemblage from the $203 low to $225 high. Any added losses may conceivably advance the amount aback appear the $200 abutment area.
Looking at the chart, bitcoin banknote amount is assuming absolute signs aloft the $215 and $218 abutment levels. Therefore, there are aerial affairs of an upside breach aloft the $222 and $225 attrition levels in the abreast term.
Hourly MACD – The MACD for BCH/USD is currently affective boring in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently able-bodied aloft the 50 level.
Key Support Levels – $215 and $200.
Key Resistance Levels – $225 and $240.
