BCHUSD Surges Past $580 Resistance, Eyes $715 in Bullish Breakout

BCHUSD has broken the significant trend line resistance $580 and holds above that level. The pair surged more than 15% in the past three days. It hit a high of $604.75 and is currently trading around $602.33.The overall trend is bullish as long as the support $440 holds.

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

The near-term resistance is around $625; any indicative breach above will take the pair to $640/$715. On the lower side, immediate support is $559, and any violation below targets $514/$490.

Indicators (4-hour chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $559 with SL around $500 for TP of $715.