THELOGICALINDIAN - Key Points
Bitcoin banknote amount bootless to accretion bids and confused bottomward adjoin the US Dollar. BCH/USD is currently testing a acute abutment aloft $270.
Bitcoin Cash Price Support
It seems like there was no respite for Bitcoin banknote amount as it connected to move bottomward from $340 adjoin the US Dollar. The amount continued its abatement and currently placed able-bodied beneath the $300 handle. Earlier, there was an upside move from $280 appear the $320 level, but the amount bootless to accretion momentum. There was alike a breach aloft yesterday’s accent abutting bearish trend band with attrition abreast $300 on the alternate blueprint of BCH/USD.
However, the amount faced sellers abreast $320 and the 100 alternate simple affective average. It confused bottomward and currently trading abreast a aloft abutment breadth of $270. The amount is accumulation losses aloft $270 and ability actual a few credibility college in the abreast term. An antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $390 aerial to $272 low. However, the best important attrition is abreast $320 and the 100 alternate simple affective average.
The $320 area is additionally abreast the 38.2% Fib retracement akin of the aftermost abatement from the $390 aerial to $272 low. Selling rallies in the abbreviate appellation appear $320 ability be considered.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is mostly in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is placed in the oversold levels.
Major Support Level – $270
Major Resistance Level – $300
Charts address – Trading View, Kraken
