THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting drive aloft $750 adjoin the US Dollar. BCH/USD has to bright the $800 barrier to extend the accepted uptrend in the abreast term.
Bitcoin Cash Price Support
The accomplished three sessions were positive as bitcoin banknote amount acquired absorption and remained able-bodied aloft $700 adjoin the US Dollar. The BCH/USD brace acquired drive and bankrupt the $740 and $750 attrition levels. There was a absolute alteration bygone as the amount activated the 50% Fib retracement akin of the aftermost leg from the $650 low to $785 high.
The amount started a beginning advancement beachcomber and austere a acute barrier at $750. More importantly, yesterday’s accent crumbling approach was burst with attrition abreast $735 on the alternate blueprint of the BCH/USD pair. The brace alike succeeded in allowance the $770 resistance. It is currently accumulation aloft the $770 akin with positive signs. On the upside, an antecedent attrition is at $795, followed by $800. Aloft this last, the amount will best acceptable barter appear the $850 akin in the abreast term. On the downside, an antecedent abutment is the 23.6% Fib retracement akin of the aftermost beachcomber from the $716 low to $795 high.
Looking at the chart, the amount is positioned accurately aloft the $750 level. The 50% Fib retracement akin of the aftermost beachcomber from the $716 low to $795 aerial is additionally at $756 to act as a able buy zone. Overall, the amount charcoal able-bodied accurate aloft $750 for added gains.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is positioned in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is able-bodied aloft the 60 level.
Major Support Level – $750
Major Resistance Level – $800
