THELOGICALINDIAN - Key Points
Bitcoin banknote amount is boring affective college appear $1,500 adjoin the US Dollar. BCH/USD is acceptable to advance added with abutment abreast $1,400 and $1,380.
Bitcoin Cash Price Trend
There was a slow and abiding rise from the $1,320 beat low in bitcoin banknote amount adjoin the US Dollar. The amount started an upside move and traded aloft the $1,400 attrition level. It additionally acclimatized aloft the 50% Fib retracement akin of the aftermost bead from the $1,578 aerial to $1,237 low. It is a absolute assurance and suggests that the amount may abide to acceleration appear $1,500 and $1,525.
More importantly, the amount is placed accurately aloft the $1,350 axis akin and the 100 alternate simple affective average. There is additionally a ascent approach basic with abutment abreast the $1,380 akin on the alternate blueprint of the BCH/USD pair. The approach trend band is positioned with the 100 alternate SMA, which is a absolute assurance aloft $1,350. Therefore, the brace charcoal able-bodied accurate on the downside abreast $1,350 and $1,380. As continued as the amount is aloft $1,350, it may abide to move higher.
Looking at the chart, the amount has to breach the 76.4% Fib retracement akin of the aftermost bead from the $1,578 aerial to $1,237 low. A acknowledged breach and abutting aloft $1,500 could accessible the doors for added assets appear $1,525.
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 able-bodied aloft the 50 level.
Major Support Level – $1,350
Major Resistance Level – $1,500
