BCH has been very strong the past month, up over 50% since December. This set up looks even better on the smaller time frames. I think BCH could go parabolic. I'm entering here with my two targets indicated on the chart.
Donchian Channel Suggested a possible bullish move, secondary confirmation agreed, went long at 0.03017 and captured a nice up move. I took off 50% of my position at 2x ATR to lock in some profit. I moved my Stop Loss to Break Even and currently letting my remaining half run with a trailing stop of about 1x ATR.
Nice trade so far, at least locked in a small winner...
Hi Folks,
Bitcoin Cash falling like no tomorrow. I think where is Demand Zone from there we might see trend Reversal. If not it will go to the second demand Zone.
I would not be even surprise if we see bit Pin bar to go through two demand Zones.
Don't set Buy order and wait for confirmation. As we have falling almost on all of coins and we made Lowest Low.
BCH trade idea:
Looks decent on lower timeframes, if I were looking to long, I'd wait for a retrace to green support/99MA below if the opportunity arises. That or a break and close above r1.
I couldn't help but get a little giddy after looking at BCH's daily MACD this morning. So I gave the chart a closer look and here is what I found. (**I'm using the BCHXBT chart from Kraken for a more complete price history.)
DOWNSIDE ARGUMENT
BCH has this repeating fractal after a large pump which it has completed five times before. The current price action is...
Looking at the daily chart for BCH, you can see the massive falling wedge that goes back to the beginning of BCH back in August of 2017. Using the wedge heights to predict our target price, we have the potential for a 8-9x gain here if either target is hit. Most exchanges have converted to a BCHABC chart which lacks all of BCH's previous price action history, so...
The ratio got grounded to the dust after the fork to its lowest ever at 0.25. The recent rally was an indication of how undervalued it was.
After a move like that,
1) its normal to have bounce to 0.5-0.618 Fib level of the entire drop
2) ABC waves are normal in a recovery during an downtrend. A & B appear to be done
3) Bull flag can be seen with a target flag...
Looking at the daily chart for BCHABC, I see a lot of things I like. We have a bullish cross on the daily MACD as it rounds off key support. The two previous times BCH touched this support,the price took off to all-time highs. But take that with a grain of salt as it's important to remember those pumps occurred in a bull market and this is a bear market. The RSI,...
Looking at the daily chart for BCH/XBT, we can see that it is sitting at a new all-time low. The price action has been in a falling wedge since last year and is currently sitting on its last line of defense. Nevertheless, there are some positives. The daily RSI is oversold at 26 and is due for a bounce. Support can be seen on the MACD and price chart.
BCH tends...
Before I begin, I would like to preface that this is not a trading market with Bitcoin as bearish as it has been. As such, BCH will likely continue to be be negatively affected if Bitcoin continues its descent. However, BCH appears to be hitting several support levels all at once. First support line comes from the falling wedge that BCH has been in since this time...
Bitcoin Cash is a partner with Bitmex in implicit or explicit way. As you know this coin is fork of Bitcoin which claiming that it is more faster than Bitcoin. The controversy is that Roger Ver and the whole Bitcoin Cash team is scamming the Cryptocurrency with this coin, with all of the shady actions that they've made. This rumour spread among crypto twitter OGs....
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