Bitcoin Cash to $400 riding the fork train to profitland?
My last analysis on BCH was pretty decent, let's see if I can throw out another.
On this daily chart we can see the major support line in yellow at around $201.
We can also see that BCH is currently trading around the 0.236 fib level and previously this is a good time to buy in.
BCH is trading above the EMA 10 (in blue) currently but needs to push above the MA 21 (in orange) for confirmation of the upward move.
The LMACD is showing signs of a bullish crossover.
The RSI shows the green downtrend line has broken.
BCH has been trading within a $100 range since the covid crash in March.
BCH has tested the 0.382 fib level, gone back to major support at yellow line then moved up to test the 0.5 fib level and again retraced back to major support at yellow line.
I am expecting BCH to now make a move up to the 0.618 fib level. Once there, the fomo of the fork may be upon us and could propel BCH to around $400 or more.
On the weekly chart below we need to see BCH move above the MA 21 (in orange). Also the EMA 10 (in blue) to not go under the MA 21, to confirm the move upwards.
The EMA 100 (in purple) would be around the $400 region if we started moving up.
The main resistance on the weekly chart is the EMA 50 (in yellow) and the MA 100 (in red) as you can see from previous failed attempts to move above them.
On the 4 hour chart below we can see BTC trying to break through the top of the Gaussian Channel and the EMA 100 (in purple). The MA 200 (in red) sits above at about the $260 area.
The LMACD is now above 0.
Please be aware these indicators are early and BCH could drop back to yellow resistance line before a move upwards.
Happy trading legends!
HTBB
Donations via TradingView coins will enable me to post more of my analysis with more information. Thanks in advance if you are a legend who donates.
On this daily chart we can see the major support line in yellow at around $201.
We can also see that BCH is currently trading around the 0.236 fib level and previously this is a good time to buy in.
BCH is trading above the EMA 10 (in blue) currently but needs to push above the MA 21 (in orange) for confirmation of the upward move.
The LMACD is showing signs of a bullish crossover.
The RSI shows the green downtrend line has broken.
BCH has been trading within a $100 range since the covid crash in March.
BCH has tested the 0.382 fib level, gone back to major support at yellow line then moved up to test the 0.5 fib level and again retraced back to major support at yellow line.
I am expecting BCH to now make a move up to the 0.618 fib level. Once there, the fomo of the fork may be upon us and could propel BCH to around $400 or more.
On the weekly chart below we need to see BCH move above the MA 21 (in orange). Also the EMA 10 (in blue) to not go under the MA 21, to confirm the move upwards.
The EMA 100 (in purple) would be around the $400 region if we started moving up.
The main resistance on the weekly chart is the EMA 50 (in yellow) and the MA 100 (in red) as you can see from previous failed attempts to move above them.
On the 4 hour chart below we can see BTC trying to break through the top of the Gaussian Channel and the EMA 100 (in purple). The MA 200 (in red) sits above at about the $260 area.
The LMACD is now above 0.
Please be aware these indicators are early and BCH could drop back to yellow resistance line before a move upwards.
Happy trading legends!
HTBB
Donations via TradingView coins will enable me to post more of my analysis with more information. Thanks in advance if you are a legend who donates.
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