THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting advancement drive aloft $620 adjoin the US Dollar. BCH/USD is now able-bodied aloft $650 and analysis added upsides.
Bitcoin Cash Price Support
There were connected gains in Bitcoin banknote amount as it confused accomplished the $600 and $650 akin adjoin the US Dollar. The amount was additionally able to barter aloft the $700 handle and traded as aerial as $722. Later, a accessory alteration beachcomber was initiated, and currently the amount is trading beneath the $700 level. It has confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $550.0 low to $722.0 high. However, the downside move seems to be bound and accurate by $660-650.
To assure downsides, there is a new bullish trend band with abutment at $665 basic on the alternate blueprint of BCH/USD. The trend band abutment is additionally abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $550.0 low to $722.0 high. The amount is currently trading abreast the trend band support at $665 and ability animation back. If buyers abort to avert $665, a analysis of the abutting above abutment at $635 is possible.
On the upside, the $700 handle is an antecedent resistance. A breach aloft it could booty the amount aback appear $722. Further aloft $722, there would be a analysis of the $750 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is affective bottomward appear the 50 level.
Major Support Level – $665
Major Resistance Level – $700
Charts address – Trading View, Kraken
