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  • Price went down from $254 to $262.45.
  • BCH/USD has a strong support level at $262.

BCH/USD went down from $265 to $262.45 as markets opened this Friday. The daily confluence detector shows us little upside as strong resistance levels hamper the price up front. The bulls have one healthy support level at $262 which then can bounce off if needed.

BCH/USD Daily Confluence Detector

As per the confluence detector, the resistance levels are at $265, $268.50, $274, and $282. Confluences at those levels are:

  • $265: SMA 5, weekly 23.6% Fibonacci retracement level, and 15-min Bollinger band middle curve.
  • $268.50: Daily 61.8% Fibonacci retracement level, SMA 100, 15-min Bollinger band upper curve, and SMA 10.
  • $274: Weekly 38.2% Fibonacci retracement level and SMA 200.
  • $282: Monthly 38.2% Fibonacci retracement level.

The support levels are at $262 and $250. The confluences at those levels are:

  • $262: Daily previous low and 4-hour previous low.
  • $250: Previous week low.