THELOGICALINDIAN - Key Points
Bitcoin banknote amount is aback in a absolute area aloft $640 adjoin the US Dollar. BCH/USD is now aloft 100 alternate SMA and looks set to breach the $660 resistance.
Bitcoin Cash Price Resistance
Yesterday, there was a sharp downside correction beneath $640 in bitcoin banknote amount adjoin the US Dollar. The amount traded as low as $625 area buyers appeared. There were two attempts to breach $625, but the amount succeeded in advantageous affairs pressure. As a result, there was an upside move and the amount confused aloft the $640 attrition and the 100 alternate simple affective average.
Moreover, there was a breach aloft the 38.2% Fib retracement akin of the aftermost abatement from the $682 aerial to $625 low. At the moment, the amount is placed accurately aloft the $640 support, but it is adverse a aloft hurdle abreast $660. The mentioned $660 attrition is the 61.8% Fib retracement akin of the aftermost abatement from the $682 aerial to $625 low. A breach aloft the $660 attrition would accessible the doors for added assets in the abreast term. The abutting hurdle for buyers is abreast the $680 level.
On the downside, an antecedent abutment is abreast $645 and the 100 alternate SMA. There is additionally a new abutting bullish trend band basic with abutment at $642 on the alternate blueprint of the BCH/USD pair.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is now in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the 60 level.
Major Support Level – $640
Major Resistance Level – $660
Charts address – Trading View
