THELOGICALINDIAN - Key Points
Bitcoin banknote amount is surging college appear $720-750 adjoin the US Dollar. BCH/USD is now able-bodied aloft $650, which is a absolute sign.
Bitcoin Cash Price Support
There was a nice upside move accomplished during this anniversary aloft $620 in Bitcoin banknote amount adjoin the US Dollar. The amount acquired clip afresh and was able to move aloft the 61.8% Fib retracement akin of the aftermost abatement from the $682 aerial to $561 low. It has opened the doors for added assets and the amount afresh confused aloft $640. There was alike a breach aloft yesterday’s accent above bearish trend band with accepted attrition at $645 on the alternate blueprint of BCH/USD.
The brace additionally bankrupt the $682 beat high, which agency there are affairs of it breaking the $700 akin soon. It could alike analysis the 1.236 addendum of the aftermost abatement from the $682 aerial to $561 low at $714.9. If buyers abide in control, the amount could alike breach $720 for further gains in the abreast term. Additional upsides should alarm for a analysis of the $750 level.
On the downside, the burst attrition abreast $650 may now act as a support. Moreover, the $640 and $620 levels are now able supports and can be advised as buy zones in the abbreviate term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is accepting clip 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 – $715
Charts address – Trading View, Kraken
