THELOGICALINDIAN - Key Points
Bitcoin banknote amount is not able to move aloft $330-340 adjoin the US Dollar. BCH/USD is now disturbing to authority the $300 abutment area.
Bitcoin Cash Price Support
It seems like Bitcoin banknote amount is disturbing to balance from the $300 abutment adjoin the US Dollar. Therefore, the amount remains at a risk of added losses beneath $300 in the abreast term. At the moment, buyers are angry adamantine and the amount is trading aloof aloft $300. There were 2-3 attempts to beat the $300-305 levels, but sellers failed. The amount is currently convalescent with an antecedent attrition about the 23.6% Fib retracement akin of the aftermost bead from the $335 aerial to $304 low.
An average attrition is abreast $318 and the 50% Fib retracement akin of the aftermost bead from the $335 aerial to $304 low. On the upside, this week’s accent aloft bearish trend band with accepted attrition at $325 is complete on the alternate blueprint of BCH/USD. It ability abide to comedy a aloft role for an upside breach aloft $340. As continued as the brace is beneath the trend band resistance and $340, it charcoal in the bearish zone.
On the downside, a abutting beneath $300 would booty the brace appear the aftermost low of $290.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BCH/USD is mostly placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently abreast the 45 level.
Major Support Level – $305
Major Resistance Level – $325
Charts address – Trading View, Kraken
