THELOGICALINDIAN - Key Points
Bitcoin banknote amount is boring affective college aloft $1,120 adjoin the US Dollar. BCH/USD could advance assets appear the $1,200 akin in the abreast term.
Bitcoin Cash Price Support
There were slow and abiding gains aloft the $1,100 axis akin in bitcoin banknote amount adjoin the US Dollar. The amount confused added college and bankrupt the $1,120 and $1,150 attrition levels. There was additionally a breach aloft the 61.8% Fib retracement akin of the aftermost abatement from the $1,210 aerial to $1,046 low. The best allotment was an alternate abutting aloft the $1,150, signaling an upside acceleration.
At the moment, the amount is trading able-bodied aloft the $1,120 abutment akin and the 100 alternate simple affective average. on the upside, the abutting above hurdle sits abreast $1,180. It is the 76.4% Fib retracement akin of the aftermost abatement from the $1,210 aerial to $1,046 low. Aloft this, the amount will best acceptable revisit the $1,200 akin in the abreast term. Any added assets could advance the amount appear the $1,250 level. If there is a downside correction, the amount may acquisition abutment abreast the $1,140 level. There is additionally a abutting bullish trend band basic with abutment abreast $1,120 on the alternate blueprint of the BCH/USD pair.
Looking at the chart, the brace is set for added assets aloft $1,180. The accepted amount activity is absolute with supports abreast $1,140 and $1,120.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is affective accurately in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now placed aloft the 55 level.
Major Support Level – $1,120
Major Resistance Level – $1,200
