THELOGICALINDIAN - Key Points
Bitcoin banknote amount is disturbing to accretion drive aloft $1300 adjoin the US Dollar. BCH/USD ability accretion clip if it closes aloft $1400.
Bitcoin Cash Price Upside Hurdle
Recently, there was a decent attempt by bitcoin banknote amount aloft the $1300 akin adjoin the US Dollar. However, the amount bootless to accretion drive aloft $1400 and beneath again. There was an attack to breach this week’s accent above bearish trend band with accepted attrition at $1300 on the alternate blueprint of BCH/USD. The mentioned attack bootless back there was no breach of the $1400 level.
The brace confused bottomward and traded beneath the 38.2% Fib retracement akin of the aftermost beachcomber from the $1000 beat low to $1533 high. It seems like the amount is disturbing to accretion clip aloft $1300 and the trend band resistance. A abutting aloft $1300, followed by $1400 is bare for further gains. On the downside, the $1200 abutment and the 61.8% Fib retracement akin of the aftermost beachcomber from the $1000 beat low to $1533 aerial are appropriate buy zones.
A breach of the $1200 akin could burn a downside beachcomber against the $1050 level. If there are added declines, again $1000 ability be tested. On the upside, a abutting aloft $1400 would booty the amount against the $1650 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is mostly collapsed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently able-bodied beneath the 50 level.
Major Support Level – $1200
Major Resistance Level – $1400
Charts address – Trading View, Kraken
