<div><span class="entry-content"><h2>Key Points</h2>
<ul><li>Bitcoin cash price is currently facing a strong resistance near $1,160 against the US Dollar.</li>
<li>There is a major bearish trend line forming with resistance at $1,160 on the hourly chart of the BCH/USD pair (data feed from Kraken).</li>
<li>The pair might dip a few points, but the overall bias is positive above the $1,100 support level.</li>
</ul><p><em>Bitcoin cash price remains in an uptrend above $1,100 against the US Dollar. BCH/USD has to move past $1,160 and $1,180 to gain upside momentum.</em></p>
<h2>Bitcoin Cash Price Resistance</h2>
<p>There were mostly ranging moves above the $1,100 support area in bitcoin cash price against the US Dollar. The price traded towards the $1,170 level, but it failed to move further higher. A high was formed near $1,168 before the price started a downside correction. At the moment, it seems like there is a strong resistance area forming near $1,160, which may act as a pivot zone.</p>
<p>A downward correction is underway, and the price recently broke the 23.6% fib retracement level of the last wave from the $1,048 low to $1,168 high. However, the decline is finding bids near the $1,130 level and the 100 hourly simple moving average. Further below the 100 hourly SMA, there is a key support around the $1,100 level. Moreover, the 50% fib retracement level of the last wave from the $1,048 low to $1,168 high is also around the stated support. On the upside, there is a major bearish trend line forming with resistance at $1,160 on the hourly chart of the BCH/USD pair.</p>
<p><img class="alignnone size-full wp-image-335245" src="https://cryptobble.com/wp-content/uploads/2018/06/Bitcoin-Cash-Price-Analysis-BCHUSD-Eyeing-Upside-Breakbitcoin-cash-price-analysis-bch-usd-eyeing-upside-break.png" alt="Bitcoin Cash Price Analysis BCH USD" width="1326" height="621"><br></p>
<p>Looking at the chart, the pair has to settle above the $1,160 resistance area to gain upside momentum. The next hurdles above $1,160 are seen near $1,180 and $1,200.</p>
<p><strong>Looking at the technical indicators:</strong></p>
<p><strong>Hourly MACD</strong> – The MACD for BCH/USD is slowly moving in the bearish zone.</p>
<p><strong>Hourly RSI (Relative Strength Index) </strong>– The RSI for BCH/USD is currently just above the 50 level.</p>
<p><strong>Major Support Level</strong> – $1,100</p>
<p><strong>Major Resistance Level</strong> – $1,160</p>
<p></p></div>
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 <br> <br><br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://cryptobble.com/2018/06/08/bitcoin-cash-price-analysis-bch-usd-eyeing-upside-break/</em><hr/></center>