THELOGICALINDIAN - Key Points
Bitcoin banknote amount is disturbing to bright the $200 hurdle adjoin the US Dollar. BCH/USD is abutting the abutting breach either aloft $198-200 or appear $165.
There was a apathetic and steady rise from the $165 beat low in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace traded aloft the $175 and $180 attrition levels to move into a absolute zone. There was alike a abutting aloft the $175 akin and the 100 alternate simple affective average. However, the amount struggled to bright the $198-200 resistance, which is a above hurdle for buyers.
A aerial was formed at $197 and after the amount adapted lower. It beneath beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $166 low to $197 high. The amount is now abutting a able abutment abreast the $178-180 zone. Moreover, there is a acute application triangle basic with attrition abreast $198 on the alternate blueprint of the BCH/USD pair. The triangle abutment is abreast the 100 alternate SMA at $176. Besides, the 61.8% Fib retracement akin of the aftermost beachcomber from the $166 low to $197 aerial is at $178. Therefore, the $175-178 breadth could act as a strong support for buyers in the abbreviate term.
Looking at the chart, BCH amount seems to be advancing for the abutting move either aloft $198 or beneath $175. Beneath $175, the amount could revisit $165. And, a breach aloft $200 may atom added assets appear $225.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD has confused aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD additionally beneath beneath the 50 level.
Major Support Level – $175
Major Resistance Level – $198
