THELOGICALINDIAN - Key Points
Bitcoin banknote amount mostly traded in a ambit aloft $1500 adjoin the US Dollar. BCH/USD has to move accomplished $1720-1750 to move added college in the abreast term.
Bitcoin Cash Price Support
There was no aloft upside move in bitcoin banknote amount aloft the $1650 akin adjoin the US Dollar. The amount mostly traded in a tiny ambit with a slight bullish bend against $1700. There was a low formed at $1500 from area the amount confused higher. There was a apathetic and abiding upside move aloft the $1600 akin and the 100 alternate simple affective average.
Buyers advance the amount aloft the 23.6% Fib retracement akin of the aftermost aloft abatement from the $2085 aerial to $1500 beat low. Moreover, there was a breach aloft a aloft bearish trend band with attrition at $1650. It opened the doors for added assets against $1700. At the moment, it seems like there is an ascendance approach basic with abutment at $1600 on the alternate blueprint of BCH/USD. On the upside, the approach attrition is at $1720. It additionally coincides with the 38.2% Fib retracement akin of the aftermost aloft abatement from the $2085 aerial to $1500 beat low.
Therefore, a breach and abutting aloft $1720 is bare for an upside advance against $1800. Aloft $1800, the amount may arch against the $2024 attrition level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is positive, but there is no above bullish signal.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently affective college aloft the 50 level.
Major Support Level – $1600
Major Resistance Level – $1720
Charts address – Trading View, Kraken
