Cryptocurrency Derivatives Series: A Glimpse At How CME Options Could Serve Its Hedging Functionality
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
BCH/USD chart - Trading View
Exchange - Coinbase
Support: 219.37 (5-DMA); Resistance: 228.74 (21-EMA)
Technical Analysis: Bias turning Bullish
BCH/USD consolidating previous sessions gains, bias is turning bullish.
After closing 5.41% higher on 20th October trade, the pair is extending marginal gains on the day.
The pair has bounced off major trendline support and price has broken above 5-DMA and 20-DMA.
Technical indicators are turning slightly bullish. Stochs are on verge of rollover from oversold levels.
Immediate resistance is seen at 21-EMA at 228. Break above to see test of 50-DMA at 259.55.
Rejection at 21-EMA and break below trendline support (210.45), to see more weakness.