THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting clip adjoin the US Dollar. BCH/USD is acceptable to advance college as continued as it is aloft the $650 abutment level.
Bitcoin Cash Price Support
There was a decent alpha of an upside wave from the $625 beat low in bitcoin banknote amount adjoin the US Dollar. The amount traded aloft the $640 and $650 attrition levels to move aback in a absolute zone. More importantly, the amount is now able-bodied aloft the $640 axis akin and the 100 alternate simple affective average. It afresh traded as aerial as $676 afore a accessory downside correction.
It activated the 23.6% Fib retracement akin of the aftermost beachcomber from the $625 low to $676 high. However, the downside was limited and it seems like the amount is about to resume its uptrend. A breach aloft the $676 aerial could advance the amount appear the aftermost beat aerial at $685. Aloft the mentioned $685 level, the amount may alike analysis the $700 attrition in the abreast term. On the added hand, if there is a downside correction, the $650 abutment may stop losses.
Moreover, yesterday’s accent abutting bullish trend band with abutment at $650 is complete on the alternate blueprint of the BCH/USD pair. Therefore, the brace charcoal accurate on the downside aloft the $650 akin and it could abide to move college appear $700.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is affective accurately in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the overbought levels.
Major Support Level – $650
Major Resistance Level – $685
Charts address – Trading View
