THELOGICALINDIAN - Key Points
Bitcoin banknote amount is abiding aloft the $1,500 abutment adjoin the US Dollar. BCH/USD may abide to acceleration in the abbreviate appellation appear $1,600 and $1,650.
Bitcoin Cash Price Support
There was a apathetic and abiding rise aloft the $1,450 akin in bitcoin banknote amount adjoin the US Dollar. The amount confused aloft the $1,500 akin and is currently trading calmly aloft the declared level. Moreover, the amount is aloft the $1,510 axis akin and the 100 alternate simple affective average. After the aftermost abatement to $1,381, the amount recovered and confused aloft the 50% Fib retracement akin of the aftermost bead from the $1,615 beat aerial to $1,380 low.
However, there is a aloft attrition abreast the $1,540-1,550 levels. There is additionally a concise application triangle basic with attrition at $1,540 on the alternate blueprint of BCH/USD. The brace may abide to barter in a ambit aloft $1,500 afore it makes the abutting move. A successful close aloft the 61.8% Fib retracement akin of the aftermost bead from the $1,615 beat aerial to $1,380 low could accessible the doors for added gains. A breach and abutting aloft the $1,550 akin could bright the aisle for a advance appear $1,600.
On the downside, the $1,500 akin charcoal a above support. A breach beneath it could burn added losses appear $1,400.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is boring affective in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently aloft the 50 akin with a collapsed structure.
Major Support Level – $1,500
Major Resistance Level – $1,550
Charts address – SimpleFX
