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Bitcoin Cash Price Analysis BCH/USD Holding Gains, 16 July.

Bitcoin cash price is feeling the squeeze underneath the $800 support. BCH/USD is exchanging beneath $760 and it could return to the $720 support.
Bitcoin cash price is feeling the squeeze underneath the $800 support. BCH/USD is exchanging beneath $760 and it could return to the $720 support.

Bitcoin Cash Price Key Focuses

  • Bitcoin cash price recuperated pleasantly and moved over the $710 resistance against the US Dollar.
  • There is a key bullish pattern line framed with support close $712 on the hourly graph of the BCH/USD pair (information feed from Kraken).
  • The pair must remain over the $700-710 support zone to stay in a positive zone in the close term.

Bitcoin cash price influenced a pleasant upside to move above $700 against the US Dollar. BCH/USD could keep on moving high as long as it is above $700.

Bitcoin Cash Price Support

Amid the previous two sessions, there were not too bad moves in bitcoin cash price above $650 against the US Dollar. The BCH/USD pair exchanged over the $700 hindrance to move into a positive zone. All the more significantly, there was a break over the $710 resistance to set the pace for more picks up. Bitcoin cash price exchanged as high as $731 before it began a drawback rectification. It is by all accounts heading towards the 23.6% Lie retracement level of the last wave from the $662 low to $731 high at $715.

Underneath the said Lie level, there is a key bullish pattern line shaped with support close $712 on the hourly outline of the BCH/USD pair. The pattern line support holds a ton of significance since it is over the $710 rotate and support region. The following significant support is near the $700 handle and the 100 hourly basic moving normal. It concurs with the half Lie retracement level of the last wave from the $662 low to $731 high.

BCHUSD Price Chart 16 July
BCHUSD Price Chart 16 July

Taking a gander at the graph, the price stays in a positive zone as long as it is over the $700 zone. On the upside, resistances are seen close $730 and $740.

Taking a gander at the specialized markers:

Hourly MACD – The MACD for BCH/USD is gradually moving back in the bearish zone.

Hourly RSI (Relative Quality List) – The RSI for BCH/USD is declining towards the 50 level.

Significant Support Level – $710

Significant Resistance Level – $730

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Written by Coinnounce Team

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    Bitcoin price seems, by all accounts, to be keeping its head over the close term zone of enthusiasm at the channel bolster.

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