THELOGICALINDIAN - Key Points
Bitcoin banknote amount climbed college acutely aloft $900 adjoin the US Dollar. BCH/USD is currently in a monster uptrend, attractive for added gains.
Bitcoin Cash Price Rockets Past $800
The accomplished two canicule were amazing for BCH amount as it confused aloft the $800 akin adjoin the US Dollar. The amount confused to a new best aerial at $946 and registered abundant gains. As a result, there was an access in bearish burden on BTC. BCH amount afterwards trading as aerial as $946.24 started a accessory downside correction. It traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $280 low to $946 high.
However, the downside move begin abutment abreast $700. It was a antecedent beat aerial and currently prevented declines beneath $700. Furthermore, the 38.2% Fib retracement akin of the aftermost beachcomber from the $280 low to $946 aerial additionally adequate added declines. The amount is currently trading aloft $700 and captivation ground. There is a concise abutting bullish trend band basic with support at $740 on the 4-hours blueprint of BCH/USD. As continued as the brace is aloft the trend band abutment at $740, there are affairs of it affective aback appear $940.
There are alike achievability of it trading appear the $1000 level. Overall, BCH charcoal in a cool bullish trend and acceptable to move accomplished $900 again.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD hardly abbreviation its bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is acclimation lower from the overbought levels.
Major Support Level – $740
Major Resistance Level – $900
Charts address – Trading View, Kraken
