THELOGICALINDIAN - Key Points
Bitcoin banknote amount is currently accumulation aloft $1,150 adjoin the US Dollar. BCH/USD charge breach a brace of key attrition such as $1,350 to barter added higher.
Bitcoin Cash Price Range
There was a short-term high formed about the $1,370 akin in bitcoin banknote amount adjoin the US Dollar. The amount started a accessory downside alteration from the $1,370 aerial and beneath beneath $1,300. There was additionally a breach beneath the 23.6% Fib retracement akin of the upside beachcomber from the $935 low to $1,370 high. It opened the doors for added declines and the amount activated the $1,150 abutment forth with the 100 alternate simple affective average.
Moreover, the amount about activated the 50% Fib retracement akin of the upside beachcomber from the $935 low to $1,370 high. The mentioned $1,150 abutment is a aloft buy area and it seems like the amount is captivation the declared akin actual well. At the moment, the amount is trading central a ambit aloft the $1,150 level. On the upside, there is a concise abutting bearish trend line basic with attrition at $1,240 on the alternate blueprint of BCH/USD. The brace has to move aloft the trend band and achieve aloft $1,250 to retest the $1,300 level. Aloft $1,300, the amount may retest the $1,350 resistance.
On the downside, the $1,150 abutment holds a lot of accent and it charge authority to abstain added slides.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is mostly flat.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is attempting to move aloft the 50 level.
Major Support Level – $1,150
Major Resistance Level – $1,350
Charts address – SimpleFX
