FxWirePro- BCHUSD (Chart of the day)

Ichimoku analysis (4- hour chart)

Tenken-Sen- $617.50

Kijun-Sen- $632.45

BCHUSD has performed well after a long consolidation.

Any daily close above $705 confirms further bullishness.

BCHUSD prices have surged more than 20%  today. It hit a high of $683.87 at the time of writing and is currently trading around $667.17. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).

The near-term resistance is around $705, any indicative breach above will take the pair to $742/$800. On the lower side, immediate support is $619, and any violation below targets $565/$500.

Indicators ( 4- hour chart)

Directional movement index - Bullish

It is good to buy on dips around $600 with SL around $500 for TP of $800.