BCH/USD extending upside from multi-week lows of 603.30, bias higher.
The pair has taken out 1400 handle and has hit 9-week highs of 1438.
Price action has shown cloud breakout which raises scope for further upside.
Technical studies support upside, momentum with the bulls.
Next major resistance above 23.6% Fib lies at 1644 (Feb 18 high). Immediate support lies at 1194 (cloud top)
Support levels - 1194 (cloud top), 1169 (5-DMA), 1005 (55-EMA)
Resistance levels - 1473 (23.6% Fib), 1644 (Feb 18 high), 1700
Good to go long on dips around 1300/1350, SL: 1200, TP: 1475/ 1550/ 1640
The pair has taken out 1400 handle and has hit 9-week highs of 1438.
Price action has shown cloud breakout which raises scope for further upside.
Technical studies support upside, momentum with the bulls.
Next major resistance above 23.6% Fib lies at 1644 (Feb 18 high). Immediate support lies at 1194 (cloud top)
Support levels - 1194 (cloud top), 1169 (5-DMA), 1005 (55-EMA)
Resistance levels - 1473 (23.6% Fib), 1644 (Feb 18 high), 1700
Good to go long on dips around 1300/1350, SL: 1200, TP: 1475/ 1550/ 1640
Note
TP1/2 hit. Book partial profits.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.