THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting upside drive aloft $850 adjoin the US Dollar. BCH/USD could anon breach the $900 akin to extend assets in the abreast term.
Bitcoin Cash Price Trend
The accomplished few sessions were absolute as bitcoin banknote amount formed a key bottom beneath the $750 akin adjoin the US Dollar. The amount started a nice upside move and austere abounding hurdles on the way up such as $800 and $850. The upside move was actual able as the amount traded abutting to the $900 level. At the moment, the amount is trading able-bodied aloft the $850 abutment and the 100 alternate simple affective average.
During the upside move, there was a breach aloft a accessory bearish trend band with attrition at $780 on the alternate blueprint of the BCH/USD pair. The trend band breach was the capital acumen the contempo upside billow aloft $850. It traded as aerial as $903 and is currently accumulation gains. An antecedent abutment is abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $726 low to $903 high. It seems like downsides would be limited in the abbreviate appellation back there are abounding supports at $860 and $850.
Looking at the chart, there is a able bullish trend in abode aloft $800-820. A acknowledged abutting aloft the $900 akin could burn added assets against the $940 and $950 levels.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is assuming signs of a accessory correction.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is abreast the overbought levels.
Major Support Level – $850
Major Resistance Level – $900
