Cryptocurrency Derivatives Series: A Glimpse At How CME Options Could Serve Its Hedging Functionality
Crypto Technicals: BCH/USD tracks Bitcoin higher, spikes over 7% to hit 2-week highs, bias bullish
BCH/USD chart - Trading View
Exchange - Coinbase
Support: 412 (21-EMA); Resistance: 483 (May 30 high)
Technical Analysis: Bias Bullish
Bitcoin Cash trades 7.11% higher on the day at 441.75 at 10:35 GMT.
Price are tracking gains in the King Coin, technical bias has turned bullish. GMMA supports trend higher
RSI has turned north and momentum studies are bullish. Positive DMI crossover on negative DMI adds to the bullish bias.
The pair has resumed upside after brief consolidation around 21-EMA which is strong support (411.87).
Next bull target lies at 483 (May 30 high). Weakness likely on break below 21-EMA.
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