THELOGICALINDIAN - Key Points
Bitcoin banknote amount trading with a absolute bent aloft $780 adjoin the US Dollar. BCH/USD dips abide accurate for added assets aloft the $850 level.
Bitcoin Cash Price Support
After trading aloft the $850 level, there was a dip in bitcoin banknote amount adjoin the US Dollar. The BCH/USD brace beneath beneath the $820 and $800 levels. However, the downside move was adequate by the $780 abutment area. Moreover, the 100 simple affective boilerplate (4-hours) additionally acted as a acute abutment for buyers about $780. It seems like there is a able abject formed abreast the $770-780 levels.
More importantly, a key bullish trend band with accepted abutment at $800 additionally chock-full declines on the 4-hours blueprint of the BCH/USD pair. The brace bounced aback and confused aloft the 50% Fib retracement akin of the aftermost bead from the $879 aerial to $778 low. The accepted price activity is positive and suggests added assets aloft $840 in the abreast term. Buyers charge to advance the amount aloft the 61.8% Fib retracement akin of the aftermost bead from the $879 aerial to $778 low at $840. Aloft this, the amount could move appear the aftermost beat aerial at $885-880.
Looking at the chart, the amount is able-bodied accurate on the downside aloft $780. As continued as the amount is aloft $780 and the 100 SMA, it may conceivably abide to move higher.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BCH/USD is boring affective aback in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloft the 50 level.
Major Support Level – $780
Major Resistance Level – $840
