Key Points Bitcoin Cash Price Analysis 2 July
- Bitcoin cash price is situated pleasingly over the $700 bolster with positive signs against the US Dollar.
- There is another desist channel shaped with opposition close $740 on the hourly diagram of the BCH/USD combine (information feed from Kraken).
- The match should clear the $740 and $750 opposition levels to move encourage higher in the bullish zone.
Bitcoin cash price is holding the $700 bolster against the US Dollar. BCH/USD must pick up force above $750 to return to the $800 opposition zone in the close term.
Bitcoin Cash Price Trend
There was a better than average upside move over the $700 opposition in bitcoin cash price against the US Dollar. The BCH/USD match exchanged over the $760 obstruction and relatively tried the $800 level. A high was shaped at $784 before the price began combining picks up. It remedied lower and moved underneath the 23.6% Fib retracement level of the last wave from the $649 low to $784 high.
In any case, the decay was ensured by the $720 bolster zone. All the more essentially, the half Fib retracement level of the last wave from the $649 low to $784 high went about as a solid help. Right now, it appears as though there is another declining channel framed with opposition close $740 on the hourly diagram of the BCH/USD combine. The combine is right now endeavoring an upside break over the $740 opposition. BCH purchasers should clear the $740 and $750 obstruction levels to take the price towards $800 in the close term.
Bitcoin Cash Price Analysis BCH USD
Taking a gander at the diagram, the price is set pleasantly in a bullish zone above $700. An underlying help is at $720, underneath which the price could retest the $700 bolster. Any further decreases may maybe drive the price in a bearish zone towards $650.
Taking a gander at the specialized markers:
Hourly MACD – The MACD for BCH/USD is as of now level in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently over the 50 level.
Significant Support Level – $700
Significant Resistance Level – $750