THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading abreast $300 on Kraken adjoin the US Dollar. BCHABC is acceptable to absorb BCH ticker and it is currently trading beneath $300 on Binance.
The accomplished few canicule were very bearish for bitcoin banknote amount as its amount beneath beneath $400 adjoin the US Dollar. The BCH/USD brace faced abundant affairs absorption and the contempo angle ball added to affairs burden beneath $400. The amount beneath beneath the $350 and $320 levels as well. The contempo low was formed at $300 afore there was a accessory correction. Buyers pushed the amount aloft $330 level.
There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $450 beat aerial to $300 low. However, the upside move was capped by the $375 resistance. More importantly, there is a above bearish trend band formed with attrition at $335 on the alternate blueprint of the BCH/USD pair. The brace was additionally alone abreast the 50% Fib retracement akin of the aftermost abatement from the $450 beat aerial to $300 low. Besides, the 100 alternate simple affective average is additionally about the trend band and $340.
Looking at the chart, BCH amount charcoal at a accident of added losses beneath $300. If BCHABC absorb the BCH ticker, the amount is acceptable to accelerate beneath $275 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is able-bodied beneath the 50 level.
Major Support Level – $300
Major Resistance Level – $335
