Updated
Bitcoin Cash Update ($BTC pair)
Update:
Bcash, Bitcoin Cash, etc. is consolidating against BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
Price just attempted to break above the 200EMA and was rejected after a bearish crossover previously. Price still currently sitting under TK as well.
Whether we continue upwards or not, I think a dip below trendline is likely to stop out any positions before a move upwards (head fake), or the downtrend continues closer to support around 0.1 - Either way, have strong hands or a tight stop before going long. Below are a collection of my thoughts on it currently:
Bull case:
- Holding up against USD
- Consolidating
- Still sitting above trendline
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump
BCH previously)
- Cloud thinning
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- "Death Cross" over 200 EMA
- Under cloud, bearish tk cross
- Resting on trendline, ready to break below
- BTC starting to look bullish again
Will update idea after break either up or down. You can find link to BCH/USD idea below.
Bcash, Bitcoin Cash, etc. is consolidating against BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
Price just attempted to break above the 200EMA and was rejected after a bearish crossover previously. Price still currently sitting under TK as well.
Whether we continue upwards or not, I think a dip below trendline is likely to stop out any positions before a move upwards (head fake), or the downtrend continues closer to support around 0.1 - Either way, have strong hands or a tight stop before going long. Below are a collection of my thoughts on it currently:
Bull case:
- Holding up against USD
- Consolidating
- Still sitting above trendline
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump
BCH previously)- Cloud thinning
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- "Death Cross" over 200 EMA
- Under cloud, bearish tk cross
- Resting on trendline, ready to break below
- BTC starting to look bullish again
Will update idea after break either up or down. You can find link to BCH/USD idea below.
Note
USD pair idea can be found here:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.