THELOGICALINDIAN - Key Points
Bitcoin banknote amount beneath appear $1,250 adjoin the US Dollar. BCH/USD is acclimation higher, but upsides abide capped by the $1,500 level.
Bitcoin Cash Price Resistance
This accomplished week, bitcoin banknote amount trimmed best of its gains and beneath from the $1,700 akin adjoin the US Dollar. The amount beneath acutely and confused beneath the $1,500 and $1,300 abutment levels. It traded abutting to the $1,250 abutment and a low was formed at $1,276. At the moment, the amount is acclimation college and is trading aloft the $1,350 level.
It additionally confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $1,677 aerial to $1,276 low. However, the amount is adverse a lot of sellers about the $1,475 level. It additionally represents a acute axis zone, acting as a barrier for buyers abreast $1,500. It was a abutment beforehand and is now preventing gains aloft $1,500. The 50% Fib retracement akin of the aftermost abatement from the $1,677 aerial to $1,276 low is additionally about $1,475. There is additionally a above bearish trend band basic with attrition abreast $1,500 on the 4-hours blueprint of the BCH/USD pair.
Looking at the chart, the amount is acutely adverse hurdles abreast $1,475 and $1,500. Moreover, the 100 alternate simple affective boilerplate is additionally abreast $1,475 to anticipate gains. A breach aloft the $1,500 akin could accessible the doors for added assets appear $1,600.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is boring affective into the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloof beneath the 50 level.
Major Support Level – $1,380
Major Resistance Level – $1,500
