- Bitcoin cash price started an upside correction and moved above the $450 resistance against the US Dollar.
- There was a break above this week’s followed key bearish trend line near $445 sur le graphique horaire de la paire BCH / USD (flux de données à partir de Kraken).
- The pair climbed above the $450 et $460 levels and it may continue to trade higher towards $500.
Bitcoin cash price recovered nicely from the $410 low against the US Dollar. BCH/USD is likely to recover further towards the $480 et $500 levels.
Bitcoin Cash Price Recovery
Hier, we discussed how bitcoin cash price is struggling to break the $440 et $450 résistances contre le dollar américain. Plus tard, the BCH/USD pair managed to gain traction and moved above the $450 la résistance. The upside move was strong as the price broke the 61.8% Fib niveau de la dernière diapositive de retracement de la $478 haut de $410 faible. The price even settled above $450 et le 100 horaire moyenne mobile simple.
More importantly, there was a break above this week’s followed key bearish trend line near $445 sur le graphique horaire de la paire BCH / USD. La paire en bourse aussi haut que $475 and it is currently correcting lower. It already tested the 23.6% Fib retracement level of the recent wave from the $410 faible à $475 haute. À la baisse, il y a beaucoup de soutien autour de la $450 niveau. The stated $450 level was a resistance earlier and now it could provide support along with the 100 hourly SMA. Below $450, la 50% Fib retracement level of the recent wave from the $410 faible à $475 high is at $443.
En regardant le tableau, BCH price is placed nicely above the $445-450 zone and it could continue to move higher towards $480-500.
Looking at the technical indicators:
MACD horaire – The MACD for BCH/USD is placed in the bullish zone.
RSI horaire (indice de force relative) – The RSI for BCH/USD is positioned nicely above the 60 niveau.
Major Support Level - $450
Major Resistance Level - $480
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La source: Newsbtc