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Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)

BCH/USD chart - Trading View 

Exchange - Coinbase

Support: 188.80 (Trendline); Resistance: 215.17 (200H MA)

Technical Analysis: Bias neutral

Bitcoin Cash comatose around 5-DMA, intraday bias turning slightly bullish.

BCH/USD is attempting  minor recovery after bouncing off strong trendline support (currently at 188.80).

Stochs have turned north, but RSI remains flat below the 50 mark. Volatility is also shrinking.

Major trend is bearish, but decisive break above 200H MA could see gains till 20-DMA at 220.99.

Breakout above 20-DMA could see upside continuation. Next major hurdle aligns at 55-EMA at 243.02.

On the downside, strong support is seen at 188.80. Violation there will open downside for the pair.
 

By Anupama Grandhi
  • Market Data
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