Bitcoin Cash Cost Technical Analysis– BCH/USD Reversing Losses

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Bitcoin Money Price Technical Analysis– BCH/USD Reversing Losses

Posted on 4:30 am October 10, 2017 Author Aayush JindalClassifications Analysis, Opinion, TradingTags ,,,,,,,,

Bitcoin cash cost is recuperating from $290 versus the US Dollar. BCH/USD might continue to move higher, however the $350 resistance holds a great deal of importance.

Bitcoin Cash Price Technical Analysis BCH USD

Secret Points Bitcoin money price declined further and traded listed below the $300 level versus the US Dollar.Yesterday’s highlighted secret bearish pattern line with present resistance is undamaged near $340 on the per hour chart of BCH/USD (information feed from Kraken). The price is presently remedying sharply, however likely to face selling interest near$340-350. Bitcoin money price is recovering from $290 against the United States Dollar.

BCH/USD might continue to move higher, however the $350 resistance holds a great deal of importance.Bitcoin Cash Price Resistance Yesterday, I mentioned that there is a possibility of Bitcoin money price testing the$300 level against the United States Dollar. The rate did trade lower, evaluated the $300 support and even surpassed it. A low was formed near $291.1 from where the cost is currently correcting greater. It has moved dramatically higher and currently above the 50% Fib retracement level of the last decrease from the $362 high to$ 291 low.However, there is a major resistance waiting on the advantage near$350. The pointed out$ 350 level was a support earlier and now it could function as a major

resistance. It is also near the 76.4%Fib retracement level of the last decline from the $362 high to $291 low. The other day’s highlighted secret bearish trend line with present resistance is intact near $340 on the per hour chart of BCH/USD. If the price continues to relocation higher, it is most likely to face offering interest near$340-350. Having said that, the cost is recuperating well from$300, which is a favorable sign. There are opportunities of a consolidation above$300 for some time prior to the price makes the next move higher.Looking at the technical indicators: Hourly MACD– The MACD for BCH/USD has moved sharply into the bullish zone.Hourly RSI (Relative Strength Index)– The RSI for BCH/USD is currently well above the 50 level.Major Assistance Level–$300 Significant Resistance Level–$ 350 Disclaimer: The info consisted of herein is not ensured, does not purport to be extensive and is strictly for information purposes

only. It should not berelated to

as investment/trading suggestions. All the info is believedtocome from reliable sources. NewsBTC does not necessitate the precision, correctness, or efficiency of details in its analysis and for that reason will not be accountable for any loss incurred.

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