THELOGICALINDIAN - Key Points
Bitcoin banknote amount is trading accurately in the bullish area aloft $1,400 adjoin the US Dollar. BCH/USD is acceptable to abide in an uptrend with resistances at $1,600 and $1,750.
Bitcoin Cash Price Support
There were decent gains from the $1,180 this accomplished anniversary in bitcoin banknote amount adjoin the US Dollar. The amount acquired abundant bullish drive and it was able to move aloft the $1,200 and $1,400 attrition levels. It alike traded aloft the $1,500 akin and formed a aerial abreast $1,617. At the moment, the amount is acclimation lower, but it charcoal accurate on the downside aloft $1,400.
An antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $1,186 low to $1,617 high. There is additionally a acute bullish trend band basic with abutment at $1,480 on the 4-hours blueprint of the BCH/USD pair. The brace is currently assuming a few bearish signs, but there are many supports on the downside at $1,450 and $1,400. The mentioned $1,400 is cogent back it is the 50% Fib retracement akin of the aftermost beachcomber from the $1,186 low to $1,617 high.
Therefore, any aloft dips from the accepted levels are acceptable to acquisition bids abreast $1,400. On the upside, a breach aloft the $1,600 akin is bare for a analysis of the $1,700 level, followed by $1,750.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is placed accurately in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is affective college appear the 70 level.
Major Support Level – $1,400
Major Resistance Level – $1,750
Charts address – SimpleFX
