Crypto Technicals: BTC/USD consolidates previous session's spike, 'Golden Cross' keeps scope for further upside
Blockchain Revolution Series: Quick Run Through on DeFi’s Adoptability That Comes As Blessing In Disguise
Overbought & selling pressures in major trend signalled by leading oscillators, Bears fall back in range on failure swings at range resistance, RSI shows faded strength to plummet prices below EMAs
Crypto Technicals: BCH/USD attempts 200-DMA breakout, technical studies turn bullish
BCH/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias turning Bullish
GMMA Indicator: Major Trend - Turning bullish; Minor Trend - Strongly bullish
Overbought/ Oversold Index: Overbought
Support: 272.40 (200-DMA); Resistance: 302.86 (38.2% Fib)
BCH/USD spikes on the day, trades 5.94% higher on the day at 282.82 at around 10:20 GMT.
The pair has broken above 200-DMA and technical studies have turned bullish.
Price action has broken above major moving averages and daily cloud, momentum with the bulls.
GMMA shows bullish shift in short-term trend with short-term moving averages crossing over long-term moving averages.
Further, the longer-term moving averages are also turning which if successful will see a new bull run.
For now, close above 200-DMA eyes next major hurdle at 38.2% Fib at 302.86 ahead of upper BB (weekly) at 323.82.
Failure to hold break above 200-DMA will see sideways grind. Retrace below 200H MA (252) negates bullish bias.