THELOGICALINDIAN - Key Points
Bitcoin banknote amount charcoal bullish aloft $1450 adjoin the US Dollar. BCH/USD is acceptable to move added college against the $1600-1650 levels.
Bitcoin Cash Price Support
There was a nice upside reaction in bitcoin banknote amount from the $1200-1220 abutment breadth adjoin the US Dollar. The amount acquired clip and confused aloft the $1400 and $1450 attrition levels. It traded as aerial as $1619 and it afresh started a downside correction. Sellers pushed the amount beneath the 38.2% Fib retracement akin of the aftermost beachcomber from the $1380 low to $1619 high. However, downsides charcoal bound by the $1450 and $1400 abutment levels.
There was a analysis of the 61.8% Fib retracement akin of the aftermost beachcomber from the $1380 low to $1619 high. Buyers adequate the $1472 Fib abutment breadth and the amount is currently affective aback higher. It seems like there is a aloft ascendance approach basic with abutment at $1475 on the alternate blueprint of BCH/USD. The approach abutment ability abode a crucial role for buyers aloft $1450 in the abreast term.
As continued as the amount is aloft the $1450-75 levels, it charcoal in the bullish trend. On the upside, an antecedent attrition is about the $1550 akin followed by the contempo aerial of $1619. Aloft $1619, the best important attrition is about $1650-1680 and the approach high trend line.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently abbreviation its bearish slope.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is affective college appear the 50 level.
Major Support Level – $1450
Major Resistance Level – $1550
Charts address – Trading View, Kraken
