Ichimoku analysis (Daily chart)
Tenken-Sen- $325.52
Kijun-Sen- $325.52
BCHUSD is consolidating after a jump of more than 50%. It hit a high of $419.89 and is currently trading around $384.50.
Any major trend reversal can happen only if it closes above $450.
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. 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 $265 for TP of $500.
