THELOGICALINDIAN - Key Points
Bitcoin banknote amount is in an uptrend aloft $1200 adjoin the US Dollar. BCH/USD ability anon breach $1500 for added assets against $1800.
Bitcoin Cash Price Resistance
There was a apathetic and steady decline in bitcoin banknote amount from the $1780 beat low adjoin the US Dollar. The amount beneath beneath the $1400 and $1300 abutment levels. However, the downside move begin abutment abreast $1200 and after the amount started affective higher. It has confused aloft the 38.2% Fib retracement akin of the aftermost abatement from the $1780 aerial to $1203 low.
The accepted amount activity is absolute and it seems like there is a aloft application triangle basic with attrition at $1480 on the 4-hours blueprint of BCH/USD. The triangle attrition is abreast the 50% Fib retracement akin of the aftermost abatement from the $1780 aerial to $1203 low. Therefore, it would be absorbing to see whether the amount can breach the $1450-1500 attrition or not. Should there be a breach and abutting aloft $1450, the amount could move further higher appear the $1700 and $1800 levels.
On the downside, an antecedent abutment is about the $1400 akin and the 100 simple affective boilerplate (4-hours). Below the mentioned $1400, there is a acute abutment about $1350 and the triangle. However, the best important trend abutment is abutting to the $1200 akin in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is boring affective aback in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now aloft the 50 akin and is affective higher.
Major Support Level – $1350
Major Resistance Level – $1500
Charts address – Trading View, Kraken
