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...
We have a large Head n Shoulders formed and the price is on the verge of breaking below the neckline. The volume also supports this possibility. In Elliott Wave, this is mapped with Wave3, Wave5, and WaveB as left shoulder, head and right shoulder respectively.
From wave count as well, we appear to be in the beginning of a C wave down to complete the overall...
The price break throught the falling TL and retest that breakdown. Now we are in parallel channel at lower zone. Next we can grow up to higher TL(rezistence) of parallel channel. This means that we can have TP on rezistence TL. EMA 100,200 can stop or slowdown us on the way up.
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...
More about the Nebula Indicator can be found here: @TheTrex
Indicator is an amazing gann-like system that appears to calculate gann angles using sine waves.
At least that's what I can figure. TheTrex made the indi. All credit is to his system/design/work.
Price is at an important...
Right into action! Fractals are all over in September.
September looks like a very busy month for crypto community. And it feels very positive. A lot of the projects have been working hard this year, and they will begin to show new heights in their progress.
I am expecting September to be positive, but with the breaking of major support Trendline is concerning....
The bitcoin network and community has unfortunately become split across 3 main forks.
1. BTC / SegWitCoin: A project that is a fork of the original bitcoin protocol, maintained by a private venture capital backed company... Blockstream. They control the Bitcoin Core implementation of Bitcoin, and have changed and restricted the protocol in dramatic ways,...
Bitcoin cash has been trading this triangle since the December 2018 low. I am looking for a high volume breakout with conviction to confirm pattern otherwise I will be trading my targets on my previous chart linked below.
Ascending triangle breakout target: $800s
Elliot Wave targets: $520-$960 (boxes on chart)
#BCHUSD now bearish in short term
according to chart Death cross very near.
If it happen then #BCH could drop under $200.
I am waiting for my white box in chart.
My buying Zone will be $150-$200.
If drop $200 then I will enter in BCHUSD.
my target for Long term :
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The current price is bouncing between two ranges marked by red and green arrows, we have resistance from 21 Weekly average (330) and support from 50 moving average (309), one of them has to give way
RSI recently got rejected from top of the channel (red arrow) and now below 50, likely will go to bottom of channel
The bearish rising wedge is an obvious pattern...