Crypto Technicals: BCH/USD attempts 200-DMA breakout, technical studies turn bullish
Tue, 14 Jan 2020, 10:46 am UTC
BCH/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias turning Bullish
GMMA Indicator: Major Trend - Turning bullish; Minor Trend - Strongly bullish
Overbought/ Oversold Index: Overbought
Support: 272.40 (200-DMA); Resistance: 302.86 (38.2% Fib)
BCH/USD spikes on the day, trades 5.94% higher on the day at 282.82 at around 10:20 GMT.
The pair has broken above 200-DMA and technical studies have turned bullish.
Price action has broken above major moving averages and daily cloud, momentum with the bulls.
GMMA shows bullish shift in short-term trend with short-term moving averages crossing over long-term moving averages.
Further, the longer-term moving averages are also turning which if successful will see a new bull run.
For now, close above 200-DMA eyes next major hurdle at 38.2% Fib at 302.86 ahead of upper BB (weekly) at 323.82.
Failure to hold break above 200-DMA will see sideways grind. Retrace below 200H MA (252) negates bullish bias.
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