THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading accurately in a bullish area adjoin the US Dollar. BCH/USD may actual a few points, but it could acquisition abutment abreast the $940-950 levels.
Bitcoin Cash Price Support
There was a slow and abiding upside move accomplished from the $903 beat low in bitcoin banknote amount adjoin the US Dollar. The amount traded college and managed to move aloft a aloft attrition abreast $920. Moreover, there was a breach aloft the $930 akin and the 100 alternate simple affective average. The best allotment was a breach aloft a aloft bearish trend band with attrition at $925 on the alternate blueprint of the BCH/USD pair.
The brace traded aloft the $950 akin and activated the $1,000 resistance. A aerial was formed at $1,018 from area a downside alteration was initiated. At the moment, the amount is trading aloof beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $903 low to $1,018 high. However, there are many supports on the downside abreast $940. The mentioned $940 akin is additionally about the 100 alternate SMA. More importantly, the 50% Fib retracement akin of the aftermost beachcomber from the $903 low to $1,018 aerial is at $961.
Therefore, it seems like there is a appropriate abutment basic abreast $940, $960 and the 100 alternate SMA. On the upside, a able abutting aloft $1,000 could burn added gains.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is abbreviating its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the 60 akin with absolute signs.
Major Support Level – $940
Major Resistance Level – $1,000
Charts address – Trading View
