THELOGICALINDIAN - Key Points
Bitcoin banknote amount is accepting clip aloft $1500 adjoin the US Dollar. BCH/USD ability abide to move college and it could alike analysis $2024.
Bitcoin Cash Price Support
There were awful gains in bitcoin banknote amount during the accomplished two canicule as it bankrupt the $1000 akin adjoin the US Dollar. The amount traded to a new best aerial at $1805 and it seems like the accepted bullish beachcomber is not over yet. At the moment, the amount is trading abreast the $1750 levels and is accumulation gains. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $1220 low to $1805 high.
The downside acknowledgment would be bound in the abbreviate appellation by $1500 or $1400. There is a acute bullish trend band basic with abutment at $1450 on the 4-hours blueprint of BCH/USD. The trend band abutment is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $1220 low to $1805 high. Therefore, any above dips from the accepted levels against $1500 ability acquisition able affairs interest. Only a abutting beneath $1400 could accessible the doors for a downside wave against the $1000 level.
On the upside, the amount will best acceptable try to breach the $1805 high. It could alike breach the $2024 akin if buyers abide in action.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is placed acerb in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is in cool overbought levels.
Major Support Level – $1500
Major Resistance Level – $2024
Charts address – Trading View, Kraken
