THELOGICALINDIAN - Key Points
Bitcoin banknote amount charcoal in an uptrend aloft $1,100 adjoin the US Dollar. BCH/USD has to move accomplished $1,160 and $1,180 to accretion upside momentum.
Bitcoin Cash Price Resistance
There were mostly alignment moves aloft the $1,100 abutment breadth in bitcoin banknote amount adjoin the US Dollar. The amount traded appear the $1,170 level, but it bootless to move added higher. A aerial was formed abreast $1,168 afore the amount started a downside correction. At the moment, it seems like there is a able attrition breadth basic abreast $1,160, which may act as a axis zone.
A bottomward alteration is underway, and the amount afresh bankrupt the 23.6% fib retracement akin of the aftermost beachcomber from the $1,048 low to $1,168 high. However, the abatement is award bids abreast the $1,130 akin and the 100 alternate simple affective average. Further beneath the 100 alternate SMA, there is a key support about the $1,100 level. Moreover, the 50% fib retracement akin of the aftermost beachcomber from the $1,048 low to $1,168 aerial is additionally about the declared support. On the upside, there is a above bearish trend band basic with attrition at $1,160 on the alternate blueprint of the BCH/USD pair.
Looking at the chart, the brace has to achieve aloft the $1,160 attrition breadth to accretion upside momentum. The abutting hurdles aloft $1,160 are apparent abreast $1,180 and $1,200.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently aloof aloft the 50 level.
Major Support Level – $1,100
Major Resistance Level – $1,160
