BCH/USD Rebounds: Bulls Defend Support, Eyes Set on $640 Breakout

BCHUSD took support near the 55 4H EMA  and showed a minor pullback. It hit a low of $469 and is currently trading around $499. Overall trend is bullish as long as the support $440 holds.

 The pair holds above the short-term (34 and 55-day EMAs) and above the long-term moving average (200-day EMA).

The near-term resistance is around $550; any indicative breach above will take the pair to $600/$640/$715. On the lower side, immediate support is $468, and any violation below targets $440/$400/$377/$349/$325.

Indicators ( 4-hour chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $480 with SL around $438 for TP of $640.