THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading accurately in a absolute area aloft $1,020 adjoin the US Dollar. BCH/USD could acceleration in the abreast appellation appear $1,080 and $1,100.
Bitcoin Cash Price Trend
There was a minor upside break bygone aloft $1,040 in bitcoin banknote amount adjoin the US Dollar. The amount traded aloft the $1,050 and $1,065 attrition levels. It alike bankrupt the $1,100 attrition and traded as aerial as $1,160. Later, a downside alteration was accomplished the amount akin assets by added than $100. However, the downside move was adequate by the $1,000 support.
At the moment, the amount is trading aloft the 23.6% Fib retracement akin of the aftermost abatement from the $1,160 aerial to $1,010 low. It may abide to acceleration appear $1,100 in the abreast term. However, there is a above hurdle about the $1,080 level. The 50% Fib retracement akin of the aftermost abatement from the $1,160 aerial to $1,010 low is positioned abreast the $1,085 level, which is acting as a barrier. On the upside, there is additionally a connecting bearish trend line with attrition at $1,100 on the alternate blueprint of BCH/USD.
On the downside, an antecedent abutment is abreast $1,040 and the 100 alternate simple affective average. Moreover, there is additionally a acute bullish trend band basic with abutment abreast the $1,020 on the aforementioned chart.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is about to move aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is disturbing to move aloft the 50 level.
Major Support Level – $1,020
Major Resistance Level – $1,100
Charts address – Trading View
