Hi, Traders !
Monfex is here for you! So, bright ideas and non-standard market view are granted !
This time we present some non-standard vision of a rationale behind the idea of whether you should buy Bitcoin Cash now, and if yes, is it better to buy directly ag USD or swap it for BTC.
* Bitcoin Cash has recently experienced the bear pressure (over past few...
Ascending triangle drawn on 4hr chart (similar to LTCUSD as well as ETHUSD) and applied to 1 day chart due to relevant moving average resistance above triangle to be cautious of. A move above $313.30 would create a new swing high while breaching the 50 & 200 Day MAs (that are trying to bear cross) making the trade a position worth risking. The measured move for...
BCH is forming a head and shoulders pattern, which is currently being confirmed by volume, as the volume is decreasing steadily at all 3 peaks.
If the bears sink the price below the neckline, that will be a very bad signal. Once the head and shoulders pattern is successful, the next price could be at $167.
On the other hand, to be able to enter the uptrend, BCH...
It is very similar to two bottom pattern, but i think it can be a dragon pattern, Descending trend line has been broken, now it is very safe to enter, according to the dragon pattern targets have been shown on the chart, and stop loss is under the first bottom (lower bottom), chart shows us a very R/R.
Note: Do not forget to set your Stop Loss.
Note: It is a long...
I was asked to look at Bitcoin Cash (BCHABCBTC) by one of our readers... On a close up of the daily chart, I didn't see much strength at first, in fact, I saw weakness and was about to close the chart.
Then I noticed the higher lows and zoomed out to get a better picture... Bitcoin Cash actually looks good.
Gaining some momentum here as it flips resistance into support at ~.028 sats with increasing volume..
Crossed over EMA50
UCTS Buy signal on the 8H and lower TFs
RSI about to reach overbought levels.
As targets aiming for ~.030 sats (matching EMA200) and ~.033 as 2nd