THELOGICALINDIAN - Key Points
Bitcoin banknote amount is surging college aloft $980 adjoin the US Dollar. BCH/USD will best acceptable bright advertise offers abreast $1,000 for added gains.
Bitcoin Cash Price Upside Move
There was a nasty upside move in bitcoin banknote amount from the $900 beat low adjoin the US Dollar. The amount surged college and bankrupt abounding barriers on the way up such as $920 and $960. It traded abutting to the $1,000 akin and formed a aerial abreast $996. It is acutely in a aloft uptrend aloft the $900 beat low and it may abide to move college in the abreast term.
Should there be a downside alteration from the accepted levels, the $970 akin could act as a support. Moreover, there is a new abutting bullish trend band basic with abutment at $960 on the alternate blueprint of the BCH/USD pair. Below the trend band support, the 23.6% Fib retracement akin of the aftermost upside beachcomber from the $819 low to $996 aerial is at $954. Therefore, it seems like the $950-960 abutment area is actual important for buyers. Below $950, the abutting abutment is abreast the 50% Fib retracement akin of the aftermost upside beachcomber from the $819 low to $996 aerial at $900.
Looking at the chart, there is a bright uptrend in abode aloft the $950 level. BCH will best acceptable abide to move college and it could alike breach the $1,000 and $1,020 attrition levels.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is affective accurately in a bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently about the overbought levels.
Major Support Level – $960
Major Resistance Level – $1,000
