Bitcoin Cash (BCH) is no exception, support is being established at the same prices as before 2017 cryptocurrency market bull run. So after a 100% retrace, nothing left to sell since all gains have been wiped, Bitcoin Cash is ready to move again.
Let’s take a look at the chart, later on we can trade:
We’ve tested the 2017 support, from which level all altcoins are bouncing (yellow square + brown line on chart).
MACD uptrend since February 2018.
RSI is in an uptrend since August.
All gains removed from last years bull run and consolidation taking place to start a new wave up.
Closer look:
When we take a closer look, we can spot additional signals.
You can see a big increase in volume, marked by the big green volume bars on the chart.
We have two reversal bullish candles each time support zone is touched (hammer and doji).
It can take several days, to weeks, for BCHUSD/USDT to move.
Let’s trade!
Trade instructions for Bitcoin Cash (BCH) vs Tether (USDT)
Buy in: $411 – $430
Targets for Bitcoin Cash (BCHUSDT) by Alan Masters:
(1) $500 (2) $560 (3) $600 (4) $660 (5) $740
Stop loss: Close weekly candle below $400.
Capital allocation: <20%.
ALAN MASTERS TRADES
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And many, many, many winning altcoins trades.
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Targets for Bitcoin Cash (BCHUSDT) by Alan Masters:
(1) $500 – Target hit (+19%) (2) $560 – Target hit (+33%)
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Over 40% profits when we hit our third target. Targets for Bitcoin Cash (BCHUSDT) by Alan Masters:
(1) $500 – Target hit (+19%) (2) $560 – Target hit (+33%) (3) $600 - Target hit 6-Nov. (+43%)
I don't think BCH has any leg. It's a grumpy little alt with poisonous and conflictive leaders, and ultimately no future.
AlanSantana
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@qfina, Yes, but the charts are looking good. We are trading based on technical analysis.
osman82
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Hi Alan, thank you for great analyse. I got it in my watch list.
bogdan_black
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