THELOGICALINDIAN - Key Points
Bitcoin banknote amount continues to barter in a ambit adjoin the US Dollar. BCH/USD has to move aloft $328 and again $340 to accretion momentum.
Bitcoin Cash Price Range
There was an upside move in Bitcoin banknote amount bygone appear $335 adjoin the US Dollar. The amount bootless to authority on to assets aloft $335 and started a downside move. There was not alike a complete analysis of the $340-350 attrition area. It was acknowledged in affective aloft the 38.2% Fib retracement akin of the aftermost bead from the $358 aerial to $305 low.
However, the upside move was adequate by a concise bearish trend band with accepted attrition at $328 on the alternate blueprint of BCH/USD. Moreover, the amount additionally bootless to achieve aloft the 50% Fib retracement akin of the aftermost bead from the $358 aerial to $305 low. Therefore, a downside was accomplished and the amount confused beneath $320. At present, it is accumulation aloft the $310 akin and the all-important $305-300 support is still intact.
It seems like the amount ability abide to barter in a ambit aloft $305. To the topside, the best important attrition charcoal abreast $340 and $350. In the abbreviate term, traders may attending to barter in the $305-340 ambit afore the abutting absolute move either aloft $340 or beneath $300.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently assuming bearish signs.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently beneath the 50 level.
Major Support Level – $310
Major Resistance Level – $330
Charts address – Trading View, Kraken
