THELOGICALINDIAN - Key Points
Bitcoin banknote amount begin abutment aloft $850 and recovered adjoin the US Dollar. BCH/USD is resuming uptrend and it could breach the $900-910 resistance.
Bitcoin Cash Price Trend
After a correction beneath the $880 level, bitcoin banknote amount begin abutment adjoin the US Dollar. The amount activated the $865 akin area buyers appeared and prevented added losses. Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $825 low to $925 beat aerial additionally acted as a support. A beginning advancement beachcomber was accomplished and the amount bounced aback aloft the $880 attrition level.
During the upside, the amount bankrupt the 50% Fib retracement akin of the aftermost abatement from the $926 aerial to $865 low. The accepted amount activity is absolute and suggests added assets aloft the $900 level. An antecedent hurdle for buyers is about the $908-910 zone. Moreover, the 76.4% Fib retracement akin of the aftermost abatement from the $926 aerial to $865 low at $911 may additionally stop upsides. Should there be an upside breach aloft $911, the amount could bang alpha more gains aloft the $920 level. On the downside, yesterday’s accent concise bullish trend band is complete with abutment at $880 on the alternate blueprint of the BCH/USD pair.
Looking at the chart, the amount is able-bodied accurate aloft the $880 level, the trend line, and the 100 alternate simple affective average.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently 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 – $880
Major Resistance Level – $910
