BCHXBT Kraken~ This is how I think, might play outHi 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.
BCHBTC trade ideas
BCH Long - BCHM19 Long BitmexBCH holds support above the daily 50 EMA & 100 EMA. Potentially it could form a golden cross.
RSI on the daily is > 50. Which means that bulls are in control here.
Bullish continuation on different STF.
On Bitmex an entry around 0.0413 would be ok.
Point of invalidation @ 0.0395, set here your stop loss if you trade on Bitmex.
Target 1: 0.050 Target 2: 0.063
Leverage max 5.
Nice RR of 4.5 which is baded on target 1.
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BCHABC - Daily MACD has me watching Bitcoin Cash very closelyI 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 following this pattern exactly. If history were to repeat itself, we should see a reversal at resistance around the .055 area and the daily MACD would likely retest support along the solid green trend, which would send the price crashing. There is overhead resistance on the chart and the zero-line is overhead resistance on the MACD. These make me pause.
UPSIDE ARGUMENT
The daily MACD looks to be beautifully positioned for a big move. If it can break that zero-line, I think the price will really jump. You can see support along dotted green trend on the MACD. Another thing I noticed is the last fractal never really completed or it never dipped below the second lower low. Could this be an indication of a turning point? I do not know.
I like the progression I see with BCH, but there are still some variables that need to come to fruition before I get on board. The potential is definitely there. We should have confirmation soon so stay tuned.
BCHBTC LONG TERM ANALYSYSBCH trapped in a triangle since its inception, RSI shows its trying to get out of the triangle in a month or two. We have to keep in mind that BCH doesn't have any value, its price movement almost entirely depend on BTC. When it broke out of triangle in December 2018 a narrow channel started(showed in dark lines), a possible move can lead to test the wall of triangle around 543. it will definitely fail and drop to the bottom support
Week support : 405
Strong support : 334
These week and strong support levels will decide shape of the narrow channel. it will bounce from these support levels.
Refer my another short term analysis idea here
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BCH - Again SHORT?BCH just broke through the support at ±0,0518 and now going to retest the resistance at 0,0518 - 0,0525 . The price is located below the MA 200 (4H chart) which is a strong resistance too.
Stoch RSI is very close to the overbought zone, no convergence on RSI .
Summarizing all facts , we can conclude that there are almost no reasons for a growth, while the whole market and especially altcoins are falling. At the moment we have a good chance to open a SHORT position on BCH for a good price.
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BCH/BTC adam and eve trend reversal. Whats next? find outlooks beautiful... wanna know what else is beautiful? my telegram channel. go ahead and look at the blue text on the chart. type that into google and join me. thank me later.
now, bch has a HUGE trend reversal and its made some sick gains already. My last call went BEAUTIFULLY! we can see it has more of the gap to fill but for now we hit some decent resistance. so we may go down for now. consoildate a little and come back up with more strength to push through. This is the bottom. This pattern has been playing out in a lot of coins. even BTC has this. XRP/USD has it too and hasnt spiked up yet. so im looking to long TF out of it.
I would suggest to wait this out a little and see what happens. I think were gunna have a pullback into the weekend .
Good luck
and follow my telegram!
BCH/BTC - green box now in playBCH/BTC has now retraced into the green box and therefore presents the potential for a good buy opportunity.
Target (bitmex): 0.0480
Blue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates major resistance.
Yellow line indicates t/p.
This is a log chart.
This is not financial advice. All charts shown on my page, including this one, are just for fun.
BCH/BTC - small retrace and then pump!BCH/BTC looks like its headed down to the bottom of the range before picking up speed again. In this one I decided to post the chart showing how I placed the gann fans. Feel free to try it out for yourself and please give me a follow if it helps you :)
Target: 0.0490
Blue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates major resistance.
Yellow line indicates t/p.
This is a log chart.
This is not financial advice.