THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading in a ambit aloft $1460 adjoin the US Dollar. BCH/USD has to move aloft the $1600 akin to accretion upside traction.
Bitcoin Cash Price Trend
There was a accessory dip in bitcoin banknote amount bygone appear $1400 adjoin the US Dollar. However, the downside move was limited as the amount begin abutment about $1400 and recovered. It confused aback aloft the $1450 abutment and is currently placed able-bodied aloft the 100 alternate simple affective average. It has additionally recovered aloft the 50% Fib retracement akin of the aftermost abatement from the $1618 aerial to $1403 low.
The accepted amount activity is absolute for BCH aloft the $1450 level. On the downside, there are two bullish trend curve basic with abutment abreast $1460 on the alternate blueprint of BCH/USD. These trend curve are abreast $1450 and the 100 alternate simple affective average. Therefore, the $1450-1460 abutment breadth is actual important for buyers in the abreast term. On the upside, the 61.8% Fib retracement akin of the aftermost abatement from the $1618 aerial to $1403 low at $1540 is currently acting as a resistance.
The amount has to breach the $1540 akin to retest the aftermost beat aerial abreast $1600-1620. On the downside, the trend lines, $1460 and the $1450 abutment breadth are important can be apparent as a buy zone.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently collapsed with no above bearish sign.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently about the 50 akin and affective lower.
Major Support Level – $1460
Major Resistance Level – $1540
Charts address – Trading View, Kraken
