THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting upside drive aloft $1,400 adjoin the US Dollar. BCH/USD may actual in the abbreviate term, but it charcoal in an uptrend.
Bitcoin Cash Price Uptrend
There were connected gains in bitcoin banknote amount from the $1,300 beat low adjoin the US Dollar. The amount was able to move aloft two important attrition levels at $1,365 and $1,380. It austere the aisle for an upside advance aloft the $1,400 resistance. There was a aloft upside move and the amount alike traded aloft the $1,450 akin and formed a aerial abreast $1,476.
A downside alteration is underway from the $1,476 high, but the amount is able-bodied aloft the 100 alternate simple affective average. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $1,295 low to $1,476 high. There is additionally a above bullish trend line basic with abutment at $1,350 on the alternate blueprint of BCH/USD. The brace charcoal able-bodied accurate on the downside about the $1.400 and $1,380 levels. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $1,295 low to $1,476 aerial is about $1,385.
Therefore, the $1,380-1,400 levels are appropriate supports. On the upside, the amount may resume it uptrend aloft the $1,460 level. Aloft the contempo aerial of $1,476, the amount could alike breach the $1,500 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is accepting drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is acclimation lower from the overbought levels.
Major Support Level – $1,380
Major Resistance Level – $1,475
Charts address – SimpleFX
