Bitcoin CashLong
BCHUSD(Chart of the day)
Horizontal trend line- $405
Downtrend channel resistance- $392
BCHUSD has performed well after a minor sell-off.
Any daily close above $390 confirms further bullishness.
The pair traded weak after forming a minor top around $525 on May 21st, 2024. Any major trend reversal can happen only if it closes above $525.
BCHUSD prices have surged more than 20% in the past three days. It hit a high of $423 at the time of writing and is currently trading around $418.59. The pair holds above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $432, any indicative breach above will take the pair to $466/$500/$525/$600. On the lower side, immediate support is $380, and any violation below targets $345/$300.
Indicators ( 4- hour chart)
Directional movement index - Bullish
It is good to buy on dips around $400 with SL around $340 for TP of $524/$600.
Downtrend channel resistance- $392
BCHUSD has performed well after a minor sell-off.
Any daily close above $390 confirms further bullishness.
The pair traded weak after forming a minor top around $525 on May 21st, 2024. Any major trend reversal can happen only if it closes above $525.
BCHUSD prices have surged more than 20% in the past three days. It hit a high of $423 at the time of writing and is currently trading around $418.59. The pair holds above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $432, any indicative breach above will take the pair to $466/$500/$525/$600. On the lower side, immediate support is $380, and any violation below targets $345/$300.
Indicators ( 4- hour chart)
Directional movement index - Bullish
It is good to buy on dips around $400 with SL around $340 for TP of $524/$600.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.