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BCH Bottoms Out: Next Stop $640?

BCHUSD  formed double bottom around $437 and showed a minor pullback. It  hits a high of $494.84 and is currently trading around $486.91. Overall trend is bullish as long as support $435 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 $503 any indicative breach above will take the pair to $525/$548/$600/$640. On the lower side, immediate support is $428, and any violation below targets $400/$377/$349/$325.

 

Indicators ( 4- hour chart)

 

Directional movement index - Bullish

 

It is good to buy on dips around $470-72 with SL around $435 for TP of $640.

 

 

 

 

 

 

 

 

 

 

 

 

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