THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting clip aloft $440 adjoin the US Dollar. BCH/USD now charcoal buy on dips abreast the $440 akin in the abbreviate term.
Bitcoin Cash Price Support
There was a decent rise in Bitcoin banknote amount aloft the $400 akin adjoin the US Dollar. The amount acquired bullish drive and was able to move aloft the $420 resistance. It opened the doors for added assets aloft $440. The amount was able to breach the 61.8% Fib retracement akin of the aftermost abatement from the $540 aerial to $302 low. It set the accent for added assets appear $500.
During the upside, there was a breach aloft a bearish trend band with attrition at $450 on the alternate blueprint of BCH/USD. The brace traded abutting to the $500 akin and traded as aerial as $497. At the moment, the amount is currently acclimation lower appear $450. On the downside, an antecedent abutment is about the 23.6% Fib retracement akin of the last wave from the $302 low to $497 high. There is additionally a bullish trend band on the alternate blueprint at $445 to act as a key support.
If the amount corrects lower from the accepted levels, it is acceptable to acquisition abutment abreast $450. Buying dips appear $450 can be advised with a stop beneath $440.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is now aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently affective lower appear the 50 level.
Major Support Level – $440
Major Resistance Level – $500
Charts address – Trading View, Kraken
