THELOGICALINDIAN - Key Points
Bitcoin banknote amount is disturbing beneath $340 adjoin the US Dollar. BCH/USD is at accident of a downside advance beneath $310 if buyers do not footfall in.
Bitcoin Cash Price Resistance
There was no aloft move in Bitcoin banknote amount aloft $325-330 adjoin the US Dollar during the accomplished 2-3 sessions. The amount traded in a ambit aloft the $300 akin and is currently advancing for a break. The best important affair is the actuality that this week’s accent bearish trend band with attrition at $335-340 is still in place. It ability abide to anticipate assets aloft $350 until buyers are able to accretion drive for an upside break.
At the moment, there is a abbreviate appellation application triangle basic with attrition at $315 on the alternate blueprint of BCH/USD. The triangle attrition is abreast the 23.6% Fib retracement akin of the aftermost bead from the $354 aerial to $306 low. A bright breach aloft the triangle attrition and the $320 akin is bare for a advance appear $335-340. The trend band resistance holds the key in the abbreviate appellation for a move aloft $350.
On the downside, the triangle abutment is abreast $310. A breach beneath the aftermost would booty the amount appear $300 followed by the aftermost beat low abreast $290.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is about aloof in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is beneath the 50 akin and branch south.
Major Support Level – $310
Major Resistance Level – $335
Charts address – Trading View, Kraken
