THELOGICALINDIAN - Key Points
Bitcoin banknote amount is surging college adjoin the US Dollar. BCH/USD is abreast to extend assets aloft the $880 akin in the abreast term.
Bitcoin Cash Price Trend
There was a strong affairs interest emerged about the $770 akin in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace started an advancement move and jumped aloft the $800 resistance. The move was able as the amount acclimatized aloft the $825 attrition and the 100 alternate simple affective average. Later, BCH buyers got into activity and pushed the amount aloft the $840 and $850 attrition levels.
The amount traded as aerial as $877 and is currently consolidating gains. An antecedent abutment is abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $772 low to $877 high. If the amount extends its alteration beneath the $850 level, it could barter appear the $840 support. However, a key abutment sits abreast the 50% Fib retracement akin of the aftermost beachcomber from the $772 low to $877 high. Beneath this, the 100 alternate SMA is a able abutment abreast the $810 level.
Looking at the chart, the amount is acutely in an uptrend aloft the $850 level. A advance aloft the $877 aerial will best acceptable accessible the doors for added assets aloft the $880 level. The abutting hurdles for buyers are abreast the $890 and $900 levels.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is assuming absolute signs in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now able-bodied aloft the 55 level.
Major Support Level – $840
Major Resistance Level – $890
