Crypto Technicals: BCHUSD hovers around 61.8% Fib, potential 'Golden Cross' keeps scope for further upside

BCH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and Rising

Support: 370.59 (5-DMA); Resistance: 404.71 (Upper BB)

BCH/USD was trading 1.44% higher on the day at 385.10 at around 10:15 GMT, after closing largely muted in the previous session.

The pair has largely ignored previous session's 'Gravestone Doji' formation and is extending upside.

Price has edged higher from session lows at 369.55 and hovers around 61.8% Fib at 384.92, bias remains bullish.

Major and minor trend as evidenced by the GMMA are bullish. Momentum with the bulls.

Potential 'Golden Cross' (Bullish 50-DMA crossover on 200-DMA) on the daily charts adds scope for further gains.

Price action has broken above 55W EMA and volatility is rising on the weekly charts. Upside continuation will see test of 437.08 (88.6% Fib).

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