THELOGICALINDIAN - Key Points
Bitcoin banknote amount remained in a ambit beneath the $200 attrition adjoin the US Dollar. BCH/USD charge ascend aloft $190 and $200 to ascend added college in the abreast term.
Yesterday, we saw a rejection in bitcoin banknote amount abreast the $195-200 attrition breadth adjoin the US Dollar. The BCH/USD brace adapted lower and traded beneath the $180 level. It activated the $165 abutment breadth and formed a abject for the abutting move. The amount climbed college and retested the $195-200 breadth area sellers appeared. There was a beginning abatement afresh and the amount traded appear the $170 level.
A new intraday low was formed at $172 and after the amount adapted higher. It confused aloft the 23.6% Fib retracement akin of the contempo abatement from the $197 aerial to $172 low. There was additionally a abutting aloft the $180 akin and the 100 alternate simple affective average. However, there are many resistances on the upside abreast the $188 and $190 levels. There is additionally a above bearish trend band formed with attrition abreast $193 on the alternate blueprint of the BCH/USD pair. Below the trend line, the 61.8% Fib retracement akin of the contempo abatement from the $197 aerial to $172 low is additionally a hurdle.
Looking at the chart, BCH amount seems to be accumulation beneath the $200 resistance. On the downside, the key abutment is at $165, beneath which the amount may analysis $150.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is boring affective in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is aloof aloft the 50 level.
Major Support Level – $165
Major Resistance Level – $195
