THELOGICALINDIAN - Key Points
Bitcoin banknote amount is assuming absolute signs aloft $850 adjoin the US Dollar. BCH/USD is acceptable to abide college aloft the $900-910 resistance.
Bitcoin Cash Price Trend
There was a analysis of an important abutment at $825 by bitcoin banknote amount afresh adjoin the US Dollar. The amount begin a able affairs absorption and started an upside move aloft the $850 level. There was a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $908 aerial to $825 low. It opened the doors for added assets and the amount jumped added aloft $850.
More importantly, yesterday’s accent key bearish trend band with attrition at $840 was breached on the alternate blueprint of the BCH/USD pair. The brace additionally traded aloft the $880 akin and it about activated the $900 level. A aerial was formed at $898 afore the amount started accumulation gains. An antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $826 low to $898 high. There may conceivably be more downsides in the abreast term, but supports such as $880 and $850 are acceptable to anticipate losses.
Looking at the chart, the brace is placed accurately aloft the $850 level. Therefore, there are aerial affairs of an upside breach aloft the $900 and $908 attrition levels. The abutting hurdle aloft $908 is about the $950 axis level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD has confused aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now placed accurately in the overbought zone.
Major Support Level – $850
Major Resistance Level – $908
