Bitcoin Cash (BCHM19) is starting to move. As you might know, we have an active trade for it which generated 45% ROE already, but, this trade is on the 4H time frame, so it is only valid for the SHORT term.
Looking at the daily time frame, there is potential for more... Please allow me to show you:
We can see a beautiful ascending channel.
Bitcoin Cash (BCHM19) Chart Setup
All details on the chart.
Leveraged trading is high-risk, not recommended for beginners.
For experienced/advanced traders only.
This is not financial advice.
Here you have my chart for Bitcoin Cash (BCHM19) on BitMEX.
Quick chart signals
Trading within an ascending channel.
Bounced after reaching strong...
We are looking at Bitcoin Cash (BCHM19) and can notice a similar pattern compared to its last bullish wave.
Easy to notice on the chart, we have two broadening falling wedges (purple dashed arrows) wherein both cases a low was hit followed by higher lows before a breakout.
There is no more volume for the bears and the RSI and MACD also support a move to the...
BCH has printed a double top formation suggesting that a short-term high is in and signalling a short-term bear-trend. After breaking below the first blue rectangle on the chart, price action confirmed bearish pressure and brought the price to rest just above the second blue rectangle. If price breaks below this support/resistance zone I will feel very comfortable...
Looking at Bitcoin Cash (BCHM19) on the daily time frame, I can see that it can continue going lower.
BCHM19 is now trading below EMA10 with additional room available to go down.
I looked at the BCHABCBTC pair for a better view since there is more data available on the chart. Here it is:
After a small bounce to retest...
BITMEX:BCHM19 Bitcoin Cash is holding above the important 1H support and I am waiting for a certain reaction of the coin. I assume probability of an accumulation and movement up to the place of structure at least.
Bitcoin Cash Hit our $300 Target- I released a trade idea for it on March 27,2019 here:
Now It is time to take some profits.
Trade: SHORT BCHM19
Current Price: 0.0600
Time Frame: 4 hour
Buy in: 0.0600 -...
Bitcoin Cash (BCHM19) can also be shorted though this one looks less exact. We have the same bearish divergence I showed on the ADAM19 short .
If this analysis comes true, I am looking at EMA50, or near 0.786 Fib. retracement, as the next and main support.
There is huge profits potential here (ROE) but remember that all of my BitMEX trades are for advanced...