Bitcoin Mazuma Price Analysis:
There was a fresh surly wave initiated from the $475 pivot level in bitcoin mazuma price versus the US Dollar. The BCH/USD pair declined and tapped a key support at $450. There was plane a tropical unelevated the $445 level and the 100 hourly simple moving average. The price recently traded towards the $425 level and is currently recovering higher. It tested the 23.6% Fib retracement level of the last ripen from the $508 upper to $425 low.
However, upsides were capped by the $445 and $450 resistance levels. There is moreover a key surly trend line in place with resistance at $445 on the hourly orchestration of the BCH/USD pair. Whilom the trend line, the price is likely to squatter sellers near the $460 level. Whilom this, the 50% Fib retracement level of the last ripen from the $508 upper to $425 low is at $467. As long as the price is unelevated the $450 and $467 resistance levels, there is a risk of increasingly losses. On the downside, a unravel unelevated the $425 low could unshut the doors for a push towards the $400 handle.
Looking at the chart, BCH price seems to be trading in a surly zone unelevated $450. More declines are possible if there is no recovery whilom $467.Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is slightly in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently virtually the 50 level.Bitcoin Mazuma Price Analysis: BCH/USD’s UpsCapped Near $450:
• Bitcoin mazuma price is struggling to recover and move when whilom $445-450 versus the US Dollar.
• There is a key surly trend line in place with resistance at $445 on the hourly orchestration of the BCH/USD pair (data feed from Kraken).
• The pair could protract to move lanugo as long as it is unelevated the $445 and $450 resistances.
Mark Peter is a full-time member of the reporting team at Bitconews. He is a finance major with one five of writing experience. He has not held any value in Bitcoin or other currencies. He joins Bitconews as a freelance journalist, blogger and forex trader.
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