THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading with a absolute bent aloft $160 adjoin the US Dollar. BCH/USD charge achieve aloft $185 and $200 to accretion bullish momentum.
There was a solid advancement move aloft the $170 attrition in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace bankrupt the key $185 attrition to move into a absolute zone. There was a able breach aloft the 76.4% Fib retracement akin of the aftermost accelerate from the $209 aerial to $146 beat low. The amount acicular aloft the $200 attrition and traded appear the $209 high.
A new intraday aerial was formed at $206 and after the amount started a downside correction. It beneath heavily and akin assets beneath $200 and $185. There was a breach beneath the $180 akin and the 100 alternate simple affective average. Moreover, the amount breached the 50% Fib retracement akin of the aftermost beachcomber from the $146 low to $206 high. On the downside, there is a appropriate abutment formed abreast $170. Besides, there is a key bullish trend band formed with abutment at $170 on the alternate blueprint of the BCH/USD pair.
Looking at the chart, BCH amount charge break aloft the $165 and $170 abutment levels to animation aback already again. On the upside, a able abutting aloft $185 and again $200 is bare for bullish continuation.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently collapsed 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 – $185
