THELOGICALINDIAN - Key Points
Bitcoin banknote amount is assuming a few absolute signs aloft $900 adjoin the US Dollar. BCH/USD buyers charge accretion backbone aloft $955 to advance the brace added higher.
Bitcoin Cash Price Trend
There was a decent amount action in bitcoin banknote amount from the $844 beat low adjoin the US Dollar. The amount started an upside move and it was acknowledged in affective aloft the $900 level. There was additionally a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $1,026 aerial to $844 low. However, there are abounding barriers on the upside for buyers about $950-960.
The accepted upside move was prevented by a acute bearish trend band with accepted attrition abreast $955 on the alternate blueprint of the BCH/USD pair. Moreover, the 61.8% Fib retracement akin of the last decline from the $1,026 aerial to $844 low. Furthermore, there was no abutting aloft $950 and the 100 alternate simple affective average. At the moment, the amount is affective bottomward and it could retest the $900 support. Below the mentioned $900 support, the abutting above supports are abreast $870 and $850.
On the upside, buyers charge accomplish in blame the amount aloft the $950 and $955 attrition levels. Aloft $955, the amount could accomplish an attack or run appear the abutting above hurdle at $1,000.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is boring affective aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now able-bodied aloft the 50 level.
Major Support Level – $900
Major Resistance Level – $955
Charts address – Trading View
