THELOGICALINDIAN - Key Points
Bitcoin banknote amount confused and activated the $150 akin adjoin the US Dollar. BCH/USD is currently recovering, but it is adverse a solid attrition abreast $185-190.
There was a sharp downside move from the $200 beat aerial in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace beneath added than $50 and traded appear the $150 level. A new annual low was formed at $147 and the amount acclimatized able-bodied beneath the 100 alternate simple affective average. Later, there was an upside alteration and the amount confused aloft $150 and $160.
There was a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $209 aerial to $147 low. However, the upside move was capped by the $190 level, which was a support earlier. Moreover, there is a above bearish trend band in abode with attrition at $185 on the alternate blueprint of the BCH/USD pair. The brace was additionally alone abreast the 61.8% Fib retracement akin of the aftermost abatement from the $209 aerial to $147 low. The amount started a beginning abatement and it is currently trading beneath $180. To jump higher, the amount charge breach the $185, $190 and $200 attrition levels.
Looking at the chart, BCH amount could abatement appear $165 and $160 if there is a breach aloft the $185 and $190 resistances. Aloft $190, the abutting hurdles is at $200.
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 able-bodied aloft the 50 level.
Major Support Level – $160
Major Resistance Level – $190
