THELOGICALINDIAN - Key Points
Bitcoin banknote amount is advancement a aloof bent aloft $300 adjoin the US Dollar. BCH/USD has to breach the $350-370 attrition to barter accomplished $400.
Bitcoin Cash Price Support
There were mainly alignment moves in Bitcoin banknote amount this accomplished anniversary aloft $300 adjoin the US Dollar. The capital point is the actuality that the amount was able to authority the $300 abutment actual able-bodied and remained able-bodied bid. There was alike an attack to accretion drive aloft $400, but the mentioned akin acted as a above hurdle. Actually, the 50% Fib retracement akin of the aftermost abatement from the $485 aerial to $291 low prevented added gains.
Moreover, a acute bearish trend band with accepted attrition at $365 on the 4-hours blueprint of BCH/USD additionally acted as a hurdle for buyers. At the moment, the amount is afresh affective college and abutting the 38.2% Fib retracement akin of the aftermost abatement from the $485 aerial to $291 low. A breach aloft the trend band attrition at $365 is bare for buyers to challenge the $400 akin one added time. Once there is a abutting aloft the $400 level, the amount would calmly claiming the $500 handle.
On the downside, the $300 abutment holds the key for aloft upsides in the abreast term. As continued as the amount is aloft $300, it charcoal aloof to bullish.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is about to move into the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloft the 50 level.
Major Support Level – $300
Major Resistance Level – $365
Charts address – Trading View, Kraken
