Crypto Technicals: BCH/USD holds trendline support, edges above 5-DMA (209.42), intraday bias neutral

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 190.50 (Trendline); Resistance: 226.86 (200H MA)

Technical Analysis: Bias Neutral

BCH/USD has bounced off strong trendline support, further weakness only on break below.

The pair has edged above 5-DMA and was currently trading at 212.91, up 2.41% at 04:00 GMT.

Intraday bias has turned neutral, major trend remains bearish. Oscillators being at oversold levels, some consolidation likely.

The pair finds immediate resistance at 110H EMA at 214.31. Break above could see more gains.

Next major resistance aligns at 200H MA at 226.86 ahead of 21-EMA at 242.45. Bearish invalidation only above daily cloud.

On the downside, break below trendline support (currently at 190.50) will see downside resumption.

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