THELOGICALINDIAN - Key Points
Bitcoin banknote amount is skyrocketing aloft $1,500 adjoin the US Dollar. BCH/USD is acceptable to extend assets against the $1,600 and $1,650 levels.
Bitcoin Cash Price Support
There were further gains in bitcoin banknote amount from the $1,200 beat low adjoin the US Dollar. The amount surged college and it succeeded in breaking a few important hurdles such as $1,300 and $1,400. It alike bankrupt the $1,500 level, which is a key bullish signal. It seems like BCH buyers are in ascendancy and the amount may anon abide to move college appear $1,600.
The contempo aerial was formed at $1,565, and buyers are in complete control. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $1,328 low to $1,565 high. There is additionally a above bullish trend band basic with abutment abreast $1,505 on the alternate blueprint of the BCH/USD pair. The trend band abutment is abutting to the 38.2% Fib retracement akin of the aftermost beachcomber from the $1,328 low to $1,565 high. Therefore, if the amount dips from the accepted levels, the $1,510 and $1,505 levels are acceptable act as strong supports.
Looking at the chart, there is a abutting attrition trend band in abode at $1,580. A advance aloft the trend band would accessible the doors for a analysis or breach of $1,600 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is accepting clip in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the overbought levels.
Major Support Level – $1,505
Major Resistance Level – $1,600
