We can see this clearly defined symmetrical triangle acting as both support and resistance for #BCH coming to an end pretty soon - but there's still time for another trade!
Coming off a healthy Short trade into a touch of confusion followed by our current Buy signal from CTv2, there's room in this wedge for another 10% Long trade. What do you guys think?
If you...
It is hard to imagine altcoins vs bitcoin pairs growing together with bitcoin but this is something that happens in every single bullish cycle.
They might not grow together on the same dates, but they alternate between bitcoin and altcoins and end up growing nonetheless.
We would assume that when bitcoin grows the altcoins vs bitcoin pairs are bound to drop but...
Here we have Bitcoin Cash and an uptrend has already been set.
As many people say, all that is left is to follow the trend.
We can easily see 40% growth on the next bullish wave.
If you use bitcoin to buy BCHBTC and bitcoin grows, you do not lose out on anything...You get to earn from both, BCH and BTCs growth.
That's the beauty of the Altcoins vs Bitcoin pairs...
The falling wedge retest is complete, now Bitcoin Cash can finally start its bull run.
Long entry: 6200 sats
Take profit: between 1 / 1.2 btc
This is my personal opinion and this is not a financial advice! Good trading!
Why use BTC other than a piece of history archive, I have no idea. Lightning network still takes 18 months. Can BCH potentially get a share of BTC while its down?
Presented here is a circle Fibonacci illustration for Bitcoin Cash. As shown, you can see how the circle fib lines up perfectly with the 1.618 golden Fibonacci level for Bitcoin Cash against Bitcoin. I hope you enjoy my content.
We have Bitcoin Cash starting to wake up...
We are looking at the BCHBTC pair.
We have this descending channel which is very likely to break soon but still holding.
Today we have a new All-Time Low followed by a recovery while prices lurk above EMA10.
I believe we already looked at the bullish divergence with the MACD and RSI...
Once we reach bottom... What...
Bitcoin Cash vs Bitcoin (BCHBTC) just hit a new All-Time Low while trading within a descending channel.
We believe that this new low will work as support and can lead to a trend reversal.
The last low at 0.005210 should work as the stop-loss.
A full candle close below this level and the above analysis is invalidated.
Trading above this level opens the door for...
We have a huge reversal candle as well as an All-Time Low on the BCHBTC chart.
We love to see ATLs because this surely opens the doors for massive growth.
Once we hit bottom, the only place left to go is up.
Bitcoin Cash is ready to grow.
We are bullish on both pairs, BCHUSD and BCHBTC...
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Namaste.
