- The cost Bitcoin cash increased significantly with the level of support at $650.
- On the four-hour chart has formed two bearish trend line resistance of $770 and $810 (for data exchange Kraken).
- To further enhance the course it is necessary to break through the barrier of $800.
The cost of the BCH holds above $700, however, preservation of the uptrend is possible only in case of overcoming barriers $800-810.
It is expected the further course correction.
This week Bitcoin Cash plummeted in price. During the lowering of the rate from $1,000 sellers struck the barriers at $800 and $700. However, a further decline has stopped at the strong support level in the area of $650, then started a correction. During the fall, from $931 to $651 cryptocurrency was trading below 23.6% Fibonacci level.
On the four-hour chart there are two lines of the bearish trend with resistance at $770 and $810. The main barrier is next with an average moving rate for a hundred hours - $800.
The graph shows that buyers need to overcome the resistance zone in the area of $800. The next resistance level formed at around $900. Barriers support are at $720, $700 and $650.
The MACD in 4 hours – in the zone of the bullish trend.
The RSI 4 hours – above 50.
The main support level of $700.
Major resistance at $810.