THELOGICALINDIAN - Key Points
Bitcoin banknote amount fabricated a nice upside move aloft $2024 adjoin the US Dollar. BCH/USD may abide to accretion clip and charcoal a buy about $2024.
Bitcoin Cash Price Buy Dips
Yesterday, we discussed how bitcoin banknote amount was advancing for added assets aloft $1850 adjoin the US Dollar. The amount fabricated a nice upside move and traded aloft the $2000 level. The upside move was appropriate and the amount traded aloft the $2200 akin as well. A aerial was formed at $2291 from area a concise alteration was initiated. It beneath beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $1750 low to $2291 high.
However, the downside move was able-bodied adequate by the $2024 level. The mentioned $2024 akin was a attrition beforehand and now it is acting as a support. Moreover, the amount was alone from the 50% Fib retracement akin of the aftermost beachcomber from the $1750 low to $2291 high. On the downside, yesterday’s accent key bullish trend band with accepted abutment at $1850 is complete on the alternate blueprint of BCH/USD. The brace ability abide to acquisition buyers on the dips abreast the $2024 and $2024 levels.
More importantly, the 100 alternate simple affective boilerplate is at $1820 to act as a aloft support. Therefore, added assets are accessible in BCH as continued as the amount is aloft $1800.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently able-bodied aloft the 50 level.
Major Support Level – $2024
Major Resistance Level – $2300
Charts address – Trading View, Kraken
