Bitcoin Cash (BCHUSD): Dip Buying Opportunity as $640 Target Looms

Ichimoku analysis (4 -hour chart)

Tenken-Sen- $432.05

Kijun-Sen- $418.92

BCHUSD  showed a minor sell-off due to profit booking. It  hits a high of $461.96 and is currently trading around $439.11. Overall trend is bullish as long as support $379 holds.

 The pair holds above the short-term (34 and 55-day EMA) and the long-term moving average (200-day EMA).

The near-term resistance is around $466 any indicative breach above will take the pair to $500/$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 $425-27 with SL around $375 for TP of $640.