THELOGICALINDIAN - Key Points
Bitcoin banknote amount is acceptable to barter college aloft $840 adjoin the US Dollar. BCH/USD may conceivably analysis $860, which is a key attrition for buyers.
Bitcoin Cash Price Resistance
There was a solid support formed abreast the $780 akin in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace started an advancement move and traded aloft the $800 resistance. Buyers were acknowledged in blame the amount aloft the 50% Fib retracement akin of the aftermost abatement from the $863 aerial to $778 beat low. It opened the doors for added assets and the amount acclimatized aloft $820 and the 100 alternate simple affective average.
However, the amount was not able to abutting aloft the 61.8% Fib retracement akin of the aftermost abatement from the $863 aerial to $778 beat low. Moreover, a aloft bearish trend band with attrition abreast $830 is acting as a hurdle on the alternate blueprint of the BCH/USD pair. The brace is currently trading abreast the trend band and $830 resistance. Should there be a breach aloft the $830 resistance, the amount will best acceptable ascend aloft the $840 level. On the upside, the abutting ambition for buyers could be abreast the aftermost beat aerial at $860.
Looking at the chart, the amount is placed in a absolute breadth aloft $820 and the 100 SMA. Below this, the amount could revisit the $800 abutment breadth in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is mostly collapsed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the 50 level.
Major Support Level – $800
Major Resistance Level – $830
