THELOGICALINDIAN - Key Points
Bitcoin banknote amount is beneath burden and is beneath $3000 adjoin the US Dollar. BCH/USD may abide to face sellers on upside abreast $3000 and $3200.
Bitcoin Cash Price Resistance
After a solid upside move aloft the $3500 level, bitcoin banknote amount begin sellers adjoin the US Dollar. The amount traded acutely lower and confused beneath the $3000 and $2000 abutment levels. The abatement was acute and the amount traded as low as $1772. Later, an upside move was accomplished and the amount confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $4000 aerial to $1772 low. However, the amount is adverse a lot of sellers about the $3000 level.
There is additionally a aloft bearish trend band basic with accepted attrition at $3000 on the 4-hours blueprint of BCH/USD. The brace is disturbing to move aloft the $3000 akin and it ability abide to struggle. Moreover, the 61.8% Fib retracement akin of the aftermost abatement from the $4000 aerial to $1772 low additionally acted as a hurdle. Once there is a breach aloft the trend band resistance and the trend band at $3000, the amount ability balance added in the abreast term.
However, any aloft assets would be boxy aloft $3000 and $3200. On the downside, the $2400 akin is additionally a acceptable abutment followed by the $2024 level.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is about to move aback in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now affective lower from the 50 level.
Major Support Level – $2024
Major Resistance Level – $3000
Charts address – Trading View, Kraken
