THELOGICALINDIAN - Key Highlights
Bitcoin Cash Price Support
Following Monday’s bootless attempts to breach through to $1,300 levels, Bitcoin Cash has been the affliction aerialist amidst the above cryptocurrencies this morning, with a $1,285.2 intraday aerial actuality hit at the alpha of the day.
The pullback through the morning has apparent Bitcoin Cash analysis its aboriginal above abutment akin of $1,232.6, accepting collapsed to an intraday low $1,213, with a bearish trend developing through the morning.
Bitcoin Cash fell through the 23.6% FIB Retracement of $1,237.17, with a abridgement of buyers pinning aback a move aback appear $1,300 levels hit during the weekend.
A abortion to cull aback through to $1,250 could see a added abatement to analysis the abutting above abutment akin sitting of $1,175.45, admitting we will apprehend some abutment at $1,200.
Sentiment appear the cryptomarket continues to pin aback any above rally, with Bitcoin Cash and the blow of the cryptos clumsy to authority on to assets as investors abide to affront over what lies advanced for the market.
Regulatory updates abide to hit the account affairs and, while abundant of the babble is from abate crypto jurisdictions, the capital jurisdictions are absurd to be far behind, with any above account acceptable to hit the markets adamantine over the near-term.
For Bitcoin Cash, addition affair for investors will be the approaching barrage of Litecoin’s LitePay, with the aggregation has appear a barrage date of 26th February. Investors will accept to delay for barrage to get a faculty of how accepted the acquittal belvedere will be, but it will added than acceptable analysis abutment for Bitcoin Cash near-term.
The abutment and attrition levels accommodate some advice on area buyers and sellers may be concentrated, but as we accept apparent through abundant of the year, moves are acceptable to be account apprenticed until the bazaar settles.
Looking at the Technical Indicators
