Ichimoku analysis (4-Hour chart)
Tenken-Sen- $325.52
Kijun-Sen- $325.52
Bitcoin Cash (BCH) has surged in recent days, up over 7% to around $342 on March 5, 2025, on the back of an all-time high 3.6 transaction rate, reflecting rising network use and liquidity, and a significant jump in BCH futures open interest from $174.48 million to $238.48 million, suggesting new capital into the market and validating a bullish scenario.
Any major trend reversal can happen only if it closes above $400.
BCHUSD gained more than 40% in the past five days. It hit a high of $382.50 and is currently trading around $377. 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 $400, any indicative breach above will take the pair to $466/$500/$525. On the lower side, immediate support is $325, and any violation below targets $269/$250/$225/$175.
Indicators ( 4- hour chart)
Directional movement index - Bullish
It is good to buy on dips around $325 with SL around $269 for TP of $500.
