THELOGICALINDIAN - Key Points
Bitcoin banknote amount is assuming absolute signs aloft $1,040 adjoin the US Dollar. BCH/USD may conceivably alpha a appropriate upside move aloft $1,100 or $1,140.
Bitcoin Cash Price Support
There was no aloft downside advance beneath $1,000 in bitcoin banknote amount adjoin the US Dollar. The amount managed to authority the arena aloft the $1,000 akin and it is currently trading aloft $1,040. The accepted amount activity is absolute back the amount is aloft the 23.6% Fib retracement akin of the aftermost bead from the $1,159 aerial to $992 low. It is additionally positioned aloft the $1,050 level, which is a absolute sign.
At the moment, the BCH/USD brace is currently attempting an upside breach aloft a bearish trend band with attrition at $1,068 on the alternate chart. Moreover, the 50% Fib retracement akin of the aftermost bead from the $1,159 aerial to $992 low is at $1,072. Therefore, if the amount succeeds in breaking the $1,065-75 attrition area, there could be added gains. In the mentioned case, the amount may breach the $1,100 akin and it could alike analysis the $1,150 level.
On the downside, an antecedent abutment is at $1,050 and the 100 alternate simple affective average. There is additionally a bullish trend band on the aforementioned blueprint with abutment at $1,010, which is a appropriate buy zone.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is boring affective into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now aloof aloft the 50 level.
Major Support Level – $1,020
Major Resistance Level – $1,075
Charts address – Trading View
