THELOGICALINDIAN - Key Points
Bitcoin banknote amount struggled to authority assets aloft $180 adjoin the US Dollar. BCH/USD is beneath burden and it looks set to bright the $160 and $150 abutment levels.
Recently, there were range moves aloft the $165 abutment in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace jumped college after and climbed aloft the $180 resistance. There was a breach aloft the 23.6% Fib retracement akin of the aftermost bead from the $197 aerial to $164 low. However, there was no able abutting aloft the $190 and $200 attrition levels. The amount additionally bootless to achieve aloft $190 and the 100 alternate simple affective average.
Moreover, there are two key bearish trend curve formed with attrition abreast $175 on the alternate blueprint of the BCH/USD pair. The brace additionally struggled to achieve aloft the 50% Fib retracement akin of the aftermost bead from the $197 aerial to $164 low. Finally, there was a downside acknowledgment and the amount confused beneath the $175 and $170 levels. At the outset, the amount is trading abreast the $165 support, with a bearish angle. It seems like there could be a sharp downside acknowledgment appear $150.
Looking at the chart, BCH amount is acutely beneath burden beneath $180 and the 100 alternate SMA. To recover, buyers charge to accretion backbone aloft $175 and $180 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is accepting backbone in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is able-bodied beneath the 50 level.
Major Support Level – $165
Major Resistance Level – $180
