BCH/USD price action has more or less flatlined since July 2022. Bitcoin Cash has been very bearish overall, with extreme bullish impulses, over the course of its nearly 6-year (8/2017 - to date) price discovery history. It took 2 years from its December 2018 bottom till its December 2020 bottom for BCH/USD to go on a parabolic bull run. It took 3 1/2 years from December 2017, 4300 top till May 2021, 1642 top. If these patterns tend to repeat themselves, there may not be any BCH/USD parabolic bull run until May-December 2024, yet the time to accumulate may have started in December 2022.
On the 1-day chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA89 crossed over SMA233 in March 2023 printing its first long signal since December 2020. On the 1-week chart, FibMAI indicator SMA5 crossed over SMA21 in February 2023 printing its first long signal under 300 since November 2020. On May 12th, 2021 BCH/USD topped out at 1642 and lost 95% of its value by November 10th, 2022 when it bottomed out at 87.
On the 1-day chart, (VF) VolumeFlow indicator 89 length Accumulation/Distribution bottomed out in January 2023. VF indicator 89 length has not crossed over 233 length Accum/Dist yet. On the 1-week chart, VF indicator 5 length Accum/Dist bottomed out in July 2023. VF indicator 5 length crossed over 21 length Accum/Dist in January 2023.
Here's a BCH/USD 1-day and 1-week, 2-split view chart. With the 1-day chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA89 and SMA233. (VF) VolumeFlow indicator 89 length Accumulation/Distribution and 233 length Accumulation/Distribution. With the 1-week chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA5 and SMA21. (VF) VolumeFlow indicator 5 length Accumulation/Distribution and 21 length Accumulation/Distribution. For visual purposes on the 1-day chart, I included FibSMA21, 34, 55, 89, 144 & 233. And on the 1-week chart, I included FibSMA5, 8, 13, 21, 34 & 55.
I'm posting this as a long because of the risk : reward ratio of the current price relative to BCH/USD price discovery history. Only time will tell.
On the 1-day chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA89 crossed over SMA233 in March 2023 printing its first long signal since December 2020. On the 1-week chart, FibMAI indicator SMA5 crossed over SMA21 in February 2023 printing its first long signal under 300 since November 2020. On May 12th, 2021 BCH/USD topped out at 1642 and lost 95% of its value by November 10th, 2022 when it bottomed out at 87.
On the 1-day chart, (VF) VolumeFlow indicator 89 length Accumulation/Distribution bottomed out in January 2023. VF indicator 89 length has not crossed over 233 length Accum/Dist yet. On the 1-week chart, VF indicator 5 length Accum/Dist bottomed out in July 2023. VF indicator 5 length crossed over 21 length Accum/Dist in January 2023.
Here's a BCH/USD 1-day and 1-week, 2-split view chart. With the 1-day chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA89 and SMA233. (VF) VolumeFlow indicator 89 length Accumulation/Distribution and 233 length Accumulation/Distribution. With the 1-week chart, (FibMAI) Fibonacci Moving Averages Input indicator SMA5 and SMA21. (VF) VolumeFlow indicator 5 length Accumulation/Distribution and 21 length Accumulation/Distribution. For visual purposes on the 1-day chart, I included FibSMA21, 34, 55, 89, 144 & 233. And on the 1-week chart, I included FibSMA5, 8, 13, 21, 34 & 55.
I'm posting this as a long because of the risk : reward ratio of the current price relative to BCH/USD price discovery history. Only time will tell.
Comment:
BCH/BTC 1 week chart:
Comment:
BCH/USD technicals update today 5/4:
12hr chart, YTD view, with pi RSI, Triangular Trend Channel ATR, Fibonacci MAI & VolumeFlow indicators.
SMA233 = 126.81
SMA55 = 124.06
1YTD high = 154.05
1YTD low = 95.21
VWMA21 TTCATR levels:
breakout = 133.40
R3 = 129.65
R2 = 125.90
R1 = 122.15
pivot = 118.40
S1 = 114.65
S2 = 110.89
S3 = 107.14
breakdown = 103.39
12hr chart, YTD view, with pi RSI, Triangular Trend Channel ATR, Fibonacci MAI & VolumeFlow indicators.
SMA233 = 126.81
SMA55 = 124.06
1YTD high = 154.05
1YTD low = 95.21
VWMA21 TTCATR levels:
breakout = 133.40
R3 = 129.65
R2 = 125.90
R1 = 122.15
pivot = 118.40
S1 = 114.65
S2 = 110.89
S3 = 107.14
breakdown = 103.39
Comment:
BCH/USD gains with a bounce off it's major S3 support
Comment:
BCH tapped 90
Comment:
BCH 90 6/9/23
to
180 6/23/23
to
180 6/23/23
Trade closed manually:
sell half position
hold half position
hold half position
Trading indicators:
www.tradingview.com/u/Options360/
www.tradingview.com/u/Options360/
