Ichimoku analysis (4 -hour chart)
Tenken-Sen- $369.88
Kijun-Sen- $369.13
BCHUSD broken significant resistance $420 after a long consolidation. It hits a high of $429 and is currently trading around $415.45.
The pair holds above the short-term (34 and 55-day EMA) and the long-term moving average (200-day EMA).
The near-term resistance is around $445, any indicative breach above will take the pair to $466/$500/$525/$548/$600. On the lower side, immediate support is $400, and any violation below targets $377/$349/$325.
Indicators ( 4- hour chart)
Directional movement index - Bullish
It is good to buy on dips around $400 with SL around $349 for TP of $500.
