THELOGICALINDIAN - Key Points
Bitcoin banknote amount is adverse a boxy claiming beneath the $1,300 akin adjoin the US Dollar. BCH/USD has to accretion backbone aloft $1,280 to acceleration further.
Bitcoin Cash Price Trend
There was an attack recently to move aloft the $1,280 and $1,290 attrition levels in bitcoin banknote amount adjoin the US Dollar. However, the amount faced a lot of sellers abreast $1,290 and it could not move aloft the $1,300 level. As a result, there was a downside move and the amount bankrupt the $1,250 support. There was additionally a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $1,125 low to $1,282 high.
The downside move is currently award abutment abreast $1,220. There is additionally a concise abutting bullish trend band basic with abutment at $1,220 on the alternate blueprint of BCH/USD. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $1,125 low to $1,282 aerial is acted as a support. If the brace fails to break aloft the $1,220 level, it could analysis the 100 alternate simple affective average. An intermediate support is about the 50% Fib retracement akin of the aftermost beachcomber from the $1,125 low to $1,282 high.
On the upside, a breach aloft the $1,280-90 area is bare for added gains. Aloft $1,290, the amount may conceivably move aloft $1,300 for a analysis of $1,350.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is currently abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now aloof beneath the 50 level.
Major Support Level – $1,220
Major Resistance Level – $1,280
Charts address – SimpleFX
