THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accumulation aloft $300 adjoin the US Dollar. BCH/USD has to accretion drive aloft $325 to accretion advancement strength.
Bitcoin Cash Price Support
It seems like Bitcoin banknote amount is preparing for the abutting move either aloft $325 or beneath $300 adjoin the US Dollar. The amount is captivation the $300 abutment actual able-bodied and is trading in a range. There was no above move during the accomplished 24 hours and the amount remained beneath the $316-318 levels. More importantly, yesterday’s accent application triangle arrangement with accepted attrition at $323 on the alternate blueprint of BCH/USD is intact.
The accent triangle attrition ability abide to comedy a aloft role for the abutting move aloft $324-325. On the upside, an antecedent attrition is about the 38.2% Fib retracement akin of the aftermost abatement from the $328 aerial to $307 low. The abutting important attrition is abutting to the $318 akin and the 50% Fib retracement akin of the aftermost abatement from the $328 aerial to $307 low. However, the amount has to bright the triangle attrition and the $325 akin in adjustment to accretion upside momentum.
On the downside, the triangle abutment is currently at $307. Below $307, the $300 handle comes in as a above barrier for sellers in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is flat, signaling ambit moves.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD affective to and fro about the 50 level.
Major Support Level – $307
Major Resistance Level – $323
Charts address – Trading View, Kraken
