THELOGICALINDIAN - Key Points
Bitcoin banknote amount is disturbing to accretion absorption aloft $1500 adjoin the US Dollar. BCH/USD has to break aloft $1100 to abstain any added declines.
Bitcoin Cash Price Upside Hurdle
There were a couple of beat moves in bitcoin banknote amount aloft the $1400 akin adjoin the US Dollar. However, the amount bootless to accretion drive every time aloft $1500. It additionally bootless to move aloft the $1600 already and is currently adverse sellers abreast the 100 simple affective boilerplate (4-hours). Recently, the amount traded college from the $1140 low. It confused aloft the 50% Fib retracement akin of the aftermost abatement from the $1610 aerial to $1140 low.
However, the amount was alone from $1480 and the amount confused beneath the $1350 abutment area. Moreover, the 61.8% Fib retracement akin of the aftermost abatement from the $1610 aerial to $1140 low acted as a hurdle. More importantly, there are two above bearish trend curve basic with attrition at $1410 and $1440 on the 4-hours blueprint of BCH/USD. These trend curve about $1450 and the 100 simple affective boilerplate (4-hours) are acting as major upside hurdles for buyers.
The amount is now affective lower already afresh appear the $1200 level. On the downside, the best important abutment is about the $1140-1100 zone. The brace has to break aloft the mentioned $1100 abutment in adjustment to abstain added declines in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is now in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is branch lower appear the 35 level.
Major Support Level – $1100
Major Resistance Level – $1450
Charts address – Trading View, Kraken
