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Bitcoin Cash Price Analysis: BCH/USD squeeze underneath $600, 13 August.

Bitcoin cash price is feeling the squeeze underneath $600. BCH/USD may endeavour a recuperation if purchasers push the BCH price above $580 and 100 SMA.
Bitcoin cash price is feeling the squeeze underneath $600. BCH/USD may endeavour a recuperation if purchasers push the BCH price above $580 and 100 SMA.

Bitcoin Cash Price Key Focuses

  • Bitcoin cash price began combining misfortunes in the wake of exchanging to the $540 low against the US Dollar.
  • There is a key interfacing bearish pattern line framed with resistance at $580 on the hourly chart of the BCH/USD combine (information feed from Kraken).
  • The match may keep on struggling to break the $580 and $600 resistance levels in the close term.

Bitcoin cash price is feeling the squeeze underneath $600 against the US Dollar. BCH/USD may maybe endeavour a recuperation if purchasers push the BCH price above $580 and 100 SMA.

Bitcoin Cash Price Resistance

There were substantial decays noted in bitcoin cash price underneath the $650 turn level against the US Dollar. The BCH/USD match declined beneath the $600 and $550 support levels and exchanged to a new low at $540. Afterwards, BCH price discovered support and began a minor upward move above $550. It additionally broke the 23.6% Lie retracement level of the last decrease from the $619 high to $540 low.

In any case, Bitcoin Cash price is as of now attempting to clear the $580 resistance territory. There is additionally key interfacing bearish pattern line framed with resistance at $580 on the hourly chart of the BCH/USD combine. A similar pattern line matches with the half Lie retracement level of the last decrease from the $619 high to $540 low. All the more critically, the 100 hourly straightforward moving normal is situated close to the $580 level. In this manner, it won’t be simple for buyers to push BCH price above $580 and the 100 hourly SMA. Over these, bitcoin cash price will in all probability recoup advance above $600 and $610.

BCHUSD Price Chart 13 August
BCHUSD Price Chart 13 August

Taking a gander at the chart, BCH price may maybe decrease a couple of focuses towards the $550 level, however, it stays supported. Going ahead, there could be solidification moves above $550 before bitcoin cash price moves past $580 and $600.

Taking a gander at the specialized markers:

Hourly MACD – The MACD for BCH/USD is for the most part level in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is as of now beneath the 50 level.

Significant Support Level – $540

Significant Resistance Level – $580

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Written by Coinnounce Team

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