THELOGICALINDIAN - Key Points
Bitcoin banknote amount is assuming absolute signs aloft $650 adjoin the US Dollar. BCH/USD ability advance college aloft the $700 akin soon.
Bitcoin Cash Price Trend
There was a decent abutment abject formed about the $600 level in bitcoin banknote amount adjoin the US Dollar. The amount started an upside move and traded aloft the $620 and $640 attrition levels. The best allotment was a breach aloft the $650 resistance, which opened the doors for added gains. Moreover, there was a abutting aloft the $650 akin and the 100 alternate simple affective average.
Most importantly, the amount is now aloft the 50% Fib retracement akin of the aftermost bead from the $724 aerial to $600 low. At the moment, the amount is trading abreast $675 and it may abide to move higher. On the downside, there is a key bullish trend band basic with abutment at $660 on the alternate blueprint of the BCH/USD pair. However, the best important abutment is now at $650, which was a attrition earlier. Moreover, the $630 akin and the 100 alternate SMA are additionally crucial supports.
On the upside, the amount has to breach the 61.8% Fib retracement akin of the aftermost bead from the $724 aerial to $600 low. Above $680, the amount may alike breach the $700 akin for added assets in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is affective in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is about to ability the overbought levels.
Major Support Level – $650
Major Resistance Level – $700
Charts address – Trading View
