THELOGICALINDIAN - Key Points
Bitcoin banknote amount has confused in the absolute area adjoin the US Dollar. BCH/USD may abide to accretion drive aloft the $1,150 akin in the abreast term.
Bitcoin Cash Price Support
There was a decent recovery accomplished from the $960 abutment breadth in bitcoin banknote amount adjoin the US Dollar. The amount traded college and confused aloft the $1,000 and $1,050 attrition levels. The trend is absolute back the amount was able to abutting aloft the $1,000 akin and the 100 alternate simple affective average. Moreover, there was a appropriate abutment abject formed aloft the $1,000 level.
More importantly, there was a breach aloft a aloft application triangle with attrition at $1,040 on the alternate blueprint of BCH/USD. The brace additionally traded aloft the $1,100 attrition and formed a aerial at $1,159. At the moment, the brace is accumulation aloft the $1,100 level. An initial support on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $962 low to $1,159 high. However, the best important abutment is abreast the $1,050 level.
The 50% Fib retracement akin of the aftermost beachcomber from the $962 low to $1,159 aerial is additionally abreast $1,060 to act as a support. The all-embracing bent is absolute as continued as the amount is aloft the $1,050 abutment and the 100 alternate SMA.
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 now placed able-bodied aloft the 50 level.
Major Support Level – $1,050
Major Resistance Level – $1,150
Charts address – Trading View
