THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading accurately aloft $1,100 adjoin the US Dollar. BCH/USD charcoal in an uptrend and it could eye an upside breach aloft $1,200 in the abreast term.
Bitcoin Cash Price Trend
The accomplished few sessions were pretty bullish as bitcoin banknote amount started an upside ride from the $1,040 beat low adjoin the US Dollar. The amount surged college and bankrupt abounding hurdles on the way up, including $1,100. It alike managed to bright the $1,180 attrition and acicular aloft the $1,200 level. A aerial was formed at $1,209 afore the amount started a downside correction.
An antecedent abutment is about the 23.2% Fib retracement akin of the aftermost beachcomber from the $1,075 low to $1,209 high. There is additionally a key ascendance approach formed with abutment at $1,170 on the alternate blueprint of the BCH/USD pair. The brace charcoal in an uptrend as continued as the amount $1,100 axis level is intact. Beneath the approach support, the abutting abutment is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $1,075 low to $1,209 aerial at $1,142. However, any above alteration from the accepted levels is beneath likely, abnormally beneath $1,140.
Looking at the chart, the amount is in a nice uptrend aloft $1,100. On the upside, the amount could already afresh breach the $1,200 barrier for added assets appear $1,250.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is signaling added upsides in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently acclimation lower appear the 55 level.
Major Support Level – $1,140
Major Resistance Level – $1,200
