For those hoping for a cup and handle reversal it looks very unlikely, it looks like a typical wave 4 breaking the channel in both directions with a continuation symmetrical triangle.
Bulls last point of defence is at $180, a break will likely see us down to $55 with a potential to go all the way to $20 on the yearly S2 confluence with the wave 5 target.
BCHUSD hit several resistances. Most probably going to target 72 - 107$ region. Not a deep analysis, just a quick look at the chart though.
Roger Ver going to short the rest of his worthless BCH on you before it goes to 0 ;-)
Happy short trading!
Searching a short entry on BCHUSD to possibly complete an inverse H&S.
Target 1 entry: 358$
Target 2 entry: 364$
Target 1 exit: possible ascending triangle bottom ~240$ depending on when we hit it
Target 2 exit: possible H&S target ~180$
BCH Resist @ $500, $640, $1300, $1650, $2950, ATH
BitcoinCash has been suppressed underneath a two year descending trendline. A major crash in late 2018 drove BCH to super lows ($74) where it has established a new long term ascending trendline, BCH has been bull for 14 months now. It became even more bullish 7.Jan.2020 when it broke above the two year descending...
BCH currently performs wave 3. It's likely an extension will be formed (take note of the series 1-2 1-2). If this chart correct - next targets are 670$ and 900$. In case of extension im guessing that preferred level will be 900$.
Like and comment this idea if it was helpful. Thanks.
> Looking at the news media, it seems many people are baffled\perplexed as they have no answer to the recent ALT markets performance;
> Some think its the whales playing games;
> My thoughts, be careful as I did that in the last year bull trend and I got caught with some coins that stopped performing and in actual fact started to go...
BCHBTC could be setting up for a viable long opportunity right now with a possible continuation of the uptrend setting up.
Ideally a trader would be looking for a pullback here to the golden pocket which clusters up nicely with the 0.5 line of the previous move.
However to some, there is already enough reason to enter, with the break of the previous candle which...
Donchian Channel Suggested a possible bullish move, secondary confirmation agreed, went long at 0.03017 and captured a nice up move. I took off 50% of my position at 2x ATR to lock in some profit. I moved my Stop Loss to Break Even and currently letting my remaining half run with a trailing stop of about 1x ATR.
Nice trade so far, at least locked in a small winner...
RSI (14) holds an important 40 level and we have a higher high on this 20-day chart.
The final confirmation of a breakout will be the second 10-day close above the local (0.03212653) and previous (0.032824498) highs: