Despite the recent surge, BCH has struggled to consolidate its gains above the crucial $300 level. This resistance poses a significant threat, as it suggests a lack of confidence and buying pressure to sustain BCH's upward momentum. If the support is not solidified soon, a retracement to lower levels becomes increasingly likely.
This is personal trading & not for our fund.
ASX:MKR was in the low 600's when we spoke about how good it looked, It is now up 50%.
If you had opportunity to buy on that dip, it would be closing in on a 2x return, NICE.
#DEFI was aa sector we spoke about a few times as having good opportunity. Since then, NYSE:COMP is up 2x+!
Spoke about NYSE:BCH in...
With the recent hype on BCH, I decided to take a look at the charts. I think we set a new low before we reclaim the new all time highs.
Not investment advice.
Hi Traders
BCHUSD (4H Timeframe)
A high probability, entry signal to go LONG will be given with the upward break of 308.8 after the market found support at 267.0. Only the downward break of 267.0 would cancel the bullish scenario.
Trade details
Entry: 308.8
Stop loss: 267.0
Take profit 1: 367.2
Take profit 2: 429.3
Score: 8
Strategy: Bullish wave We2
Well it's rare, but what a move from $ 100 area to reach $ 340 is in my book a little too rich. yes, read about the Koreans high volume that started with the EDX on the 21st June 2023.
Just look at TULIP trade, and that paints a real story as well, if one likes history.
From technical perspective 4-hourly has potential for re-visit of $ 340 area, but am not...
BCH and LTC usually maintain a certain distance from each other, with LTC rising ahead over time. And now we have a situation in which BCH has risen very quickly and has begun to challenge that BCH/LTC relation. Now we have a situation in which BCH must either come down in a dramatic way or LTC must go up in order for the distance between the two to close again,...
We can see uptrend is still build up there.. and there is bullish engulfing, so, we just take the oppurtunity what we see in our eyes.. good risk reward ratio..
BCHUSD hit today the MA200 (1w) for the first time since the week of January 3rd 2022.
This represents so far a massive +200% rise in the last 2 weeks.
The RSI (1w) is deep inside the overbought zone but so it was in January 2021 during a rally similar to today's.
Trading Plan:
1. Buy after the first red (1w) candle.
Targets:
1. 735.00 (Resistance 2).
Tips:
1....
This is only the beginning. In purple we have here what we will call a consolidation phase. We have two different types of consolidation with both following the exact same pattern.
As Bitcoin Cash moves to print a multi-year long low in December 2018, trading volume is really low.
The bottom low is set and a consolidation phase starts.
When the consolidation...
This is the question that is on your mind right?
How far up can it go?
Bitcoin Cash closed last week above EMA50, on the weekly timeframe, with the highest volume since May 2021.
The high volume clearly revealing what is about to take place.
The trade I shared in early January had a top target of $280 but that is being conservative of course. I am always...
At the moment, price is currently retesting an important imbalance at 240$. A closure below this level on the 3 day chart can predict a potential pullback towards 150$. But in order for the pullback to be valid, price must respect the current high that will form from here. On the other hand, a break above 240$ from here will push price towards 260$ easily.
