THELOGICALINDIAN - Key Points
Bitcoin banknote amount is currently accumulation beneath $1,500 adjoin the US Dollar. BCH/USD charge break aloft the $1,400 and $1,360 abutment levels to abide in a bullish zone.
Bitcoin Cash Price Upside Hurdle
There were a couple of beat moves in bitcoin banknote amount aloft the $1,360 abutment akin adjoin the US Dollar. The amount attempted to move aloft the $1,500 attrition on a brace of occasions. However, buyers bootless to accretion upside drive aloft $1,500. It seems like the amount is disturbing to bright a able advertise bank abreast $1,500 and is currently afterward the 100 alternate simple affective average.
It afresh traded as aerial as $1,493 afore starting a downside correction. It confused bottomward beneath the 38.2% Fib retracement akin of the aftermost leg from the $1,331 low to $1,493 high. However, the downside move was bound by the $1,400 abutment area. There is additionally a short-term bullish trend line basic with abutment at $1,400 on the alternate blueprint of the BCH/USD pair. Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $1,331 low to $1,493 aerial additionally acted as a abutment during the contempo slide.
Looking at the chart, the amount charge achieve aloft the $1,440 attrition and the 100 alternate SMA to accretion momentum. A acknowledged abutting aloft 100 alternate SMA could accessible the doors for a breach aloft the $1,500 attrition in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently collapsed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is still beneath the 50 level.
Major Support Level – $1,400
Major Resistance Level – $1,500
