BCH/BTC
- Still on the larger part of bearish channel trend.
- See the chart to see detail for upcoming resistance and support for short term.
- Indicators remain bearish for now and extremely oversold on 1 day chart, i expect a bounce in near future.
- DMI : -DI (seller power) is beginning to stalled,+DI (buyer power) and ADX (momentum) is still weak.
- RSI : Currently entering the oversold area.
- MACD : macd line is hovering on bearish area yet the histogram seller is appear still continue it's pressure for now.
peace._
BCHBTC trade ideas
I Can't Believe It's Not Bitcoin! - BCASH! (BCH)Why buy BITCOIN when you could have the next best thing?! The Chinese Knock Off version!
But Crypto is throwing a party and everyone is invited - yes even YOU BCASH! Just don't throw up in my kitchen like last time.
This King Club of Turd Sandwiches, is somehow still around, and what...BULLISH?! Crypto, you wild!
Well anyways, I don't have a whole lot to say about this, I don't like trading this coin but someone asked me to take a look at it, and this is my take from a technical standpoint, on BCASH.
Long a breakout and make sure to take profit. Short the breakdown. Either scenario is very possible because of Bitcoin right now. I don't even want to go further. I don't even like being reminded this abomination even exists.
2019: THE YEAR OF BITCOIN CASH pt. 3In part 1, I analyzed the market caps of Bitcoin Cash 2019 to Ripple 2017
In part 3, I'm analyzing the price action of Bitcoin Cash 2019 to Ripple 2017
BCHBTC 2019 = XRPUSD 2017
1. Same pattern: sell off into M pattern
2. Identical 200D EMA
3. Identical 200D EMA breakout and breakdown
4. Identical 4 touch support found
BCHBTC 2019 = XRPUSD 2017
Next move: a ridiculous breakout
T1: .09
T2: .14
T3: .17
BCHBTC to New All Time Low. 90% drop short opportunity.EW count says it all really. Target is 0.003232, or a 90% drop from here over the next few months.
First target will be the 0.026 region. Depending on the bounce there, we can decide if this 90% drop scenario will play out. Stop should be on that white line.
A closer look at the elliott wave count. Note that we broke the upwards sloping support and there is literally no support from here. (Note that waves 3 and 4 are speculative at this point as we don't have a definite price point to measure it from yet, but this would be based off of fib levels from wave one to wave 2. I expect the white line sloping down to act as pretty strong resistance, which can give us an idea of time frame for this trade. BCH could turn bullish again if it broke this line.
MACD looks like it just suicided off a cliff.
Meanwhile, here is the USD pairing. Clear huge bearish wedge forming. Although in my opinion this one seems less bearish, it STILL makes sense to short the BTC pairing, assuming that BTC continues its parabolic move up, because we would not expect BCH to move up more than BTC.
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However, if the daily closes like this, it's best to lower the stop loss.
That's all from me. Please be careful with your trades and good luck!
Please don't forget to leave a like!
BCH - Long - tight SL - nice RRRThis is my setup.
In this current market we need tight stop losses. BTC is very volatile and alts can over-react.
BCH found here a bottom/support. This was before a strong resistance zone. This turned into support, has already been tested 3 times.
Please practice solid Risk Management here.
Like & Folow for more setups!
Bitcoin Cash falling further, before bounce upBitcoin Cash ABC has lost support on the 100MA and will likely now fall like a dead weight until it reaches at least the 200MA, where a bounce back up to the 50MA (which by then will have dropped from current levels) will be highly likely. This free Moving Average indicator is linked below...
Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link also below.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.