Bitcoin Cash possible lower lowBCH continues to impress with every swing, both up and down. It's my favorite coin to trade at the moment. I'm uber bullish on the future, but I do believe the major caps will dip down one more time to test their previous lows. For BCH, I'm looking at buying the 900-800 level, sometime in June. If we hold above the neckline (1400 area), this count would be invalid. All depends on BTC - as usual.
Good Luck!
BCHBTC
BCH/BTC valid or false breakout?BCH/BTC dropped significantly today and could inalidate the breakout above the upper median line (uml) of the descending pitchfork. Price has found a very strong resistance at the 50% Fibonacci line of the ascending pitchfork. A failure to close above this line could signal that the rebound is completed and the price could start another leg lower soon.
BITCOIN CASH: HARD FORK & INCREASED ADOPTION - PROFIT = 21.16% !Our "Crypto Bottom" Trade Indicator has correctly identified a buy in point on the 29th of May 2018.
Using this buy in point and selling at today's peak price as identified by our NEW "Crypto Peak" Trade Indicator, you would have expected to net 21.16% PROFIT!!!
The increase in price may also be explained by positive developments including:
Dec 2017: GDAX reallows access to Bitcoin Cash 6.48% trading.
February 7: Decentralized marketplace OpenBazaar has added support for bitcoin cash 6.48% .
January 10: Cryptocurrency exchange startup Coinbase has blamed overwhelming demand from buyers for issues experienced during the launch of bitcoin cash 6.48% trading on its GDAX exchange last month.
January 27: The developers behind Bitcoin 1.05% ABC , a software implementation which accounts for 81.48% of all nodes running on the bitcoin cash 6.48% network, have released a new update designed to solve an issue whereby users could lose funds when mixing up BTC 1.05% and BCH addresses.
March 23: Chinese Exchange BitAsia supports 0 confirmation Bitcoin Cash 6.48% transactions.
April 16: Bitcoin Cash 6.48% announces Memo: An onchain social network built on Bitcoin Cash 6.48% .
April 19: Bitcoin Cash 6.48% announces Op-Codes and Scripting Capabilities Coming to Bitcoin Cash 6.48% .
April 22: Bitpay Adds Bitcoin Cash 6.48% Support to Checkout Point-of-Sale App
April 27: Bitcoin Cash's announces that next fork will add "larger block sizes" and "smart contracts".
May 4: Bitcoin Cash Opposers Scrap Lawsuit Against Bitcoin 1.05% .com, Citing Lack Of Cash
(NEW) May 19: Bitcoin initiates hard fork and adds 32MB blocks and smart contract functionality.
(NEW) May 21: Cryptocurrency investor Brian Kelly said Monday bitcoin cash is the must-own digital currency of the moment.
(NEW) May 24: Mobile banking app Revolut now lets users buy, sell cryptocurrency adds BitcoinCash.
(NEW) May 30: Devere Group, an international financial consultancy boasting well over 80,000 clients in more than 100 countries, has announced that Bitcoin Cash (BCH) have now been added its recently released cryptocurrency exchange app Devere Crypto.
(NEW) June 1: Unocoin (Indian Exchange) lists Bitcoin Cash.
(NEW) June 2: A Bitcoin Cash related charity called "Eat BCH" is setup that is focused on feeding South Sudanese Families with Food Paid for With Bitcoin Cash Donations.
(NEW) June 2: Bitcoin Cash Fund starts new website to push Bitcoin Cash . The website, bitcoincashers.org, is a portal that will educate the masses on what cryptocurrencies are, how it works and how to buy, sell, and trade with these digital assets
(NEW) June 3: Bitcoin Cash wallet HandCash releases Mainnet BETA for Android.This Bitcoin Cash wallet has advantages including the enablement of NFC payments.
(NEW) June 3: JP Morgan internal Cryptocurrency prediction report notes that Bitcoin Cash is here to stay.
The general uptrend in the crypto markets as well as the positive developments outlined above.
***The "Crypto Bottom Signal" and "Crypto Peak Signal" used in this analysis is included as part of the Crypto Trade Signals subscription.***
Downtrend line since start of May broken; target 0.16 BTCDowntrend line since start of May broken. Edge to edge triggered and Bband breakout on the 4 hour as volume returns after a month of consolidation. VPVR, Ichimoku and fib confluence pointing to a target of around 0.16.
Does Bitcoin Cash (BCH) Really Have A Future?Bitcoin Cash (BCH) is a rather controversial fork of Bitcoin (BTC) with a market cap of $17.2 Billion and currently ranked as the fourth largest coin by market cap. When it first came into existence, some believed that this could actually be a better version of Bitcoin (BTC). It did appear to be a lot faster and cheaper than Bitcoin (BTC) in the beginning and still is. However, once Bitcoin (BTC) solves all of these issues with the help of Lightning Network or similar future upgrades, what will be the fate of Bitcoin Cash (BCH)?
Bitcoin Cash is still popular among many investors as a ‘spendable’ version of Bitcoin. This means that it makes sense to order a $50 pizza with Bitcoin Cash but with Bitcoin you will end up paying a lot more in fees. So, it is not worth it to pay in Bitcoin (BTC) which is true. Currently, due to low volume and transactions, the fees are much lower for Bitcoin (BTC) but when the network was operating full throttle around $20,000, the fees were incredibly higher. This is because miners prefer to mine higher value transactions first which reduces demand for smaller value transaction blocks resulting in higher fees. Bitcoin Cash (BCH) is currently doing a good job at alleviating that problem but the question remains, “How long will Bitcoin Cash (BCH) have this edge?”
Read further: cryptodaily.co.uk
BCHUSD Long Term Set Up: OpportunBitcoin Cash with a lovely inverse head and shoulders set up. Strong support on the 0.236 level with a long term trade set up to the shoulder line. Profit taking levels at 0.786 and 1.0.
BCHBTC also showing support just below the 0.382 level.
BTCUSD Daily RSI still quite oversold, lot of technical room to go up.
Watching BTCUSD move to the top of the triangle, expecting to see BCHBTC to increase so BCHUSD to outperform.
BCH/BCC - Bitcoin Cash - Daily BittrexSecond coin on my long term trade consideration is Bitcoin Cash. The monthly chart shows the last few months have shows higher gains so I am looking to start buying in and accumulating come coins.
The overall trend has been bearish the last few weeks, but we have some divergence happening over the last few days. The AC Oscillator is showing a slow change in the trend and the Heikin Ashi candles are starting to reflect this as well. Same with the BB% indicator shows a pull from the lower band even though the candles are still showing a bearish trend. If these signs come true and the trend changes, the next line of resistance is around 14591250 SATS. I would want to wait for this resistance line to be broken and see a daily close above this line to think about a buy in. This is a daily line of resistance. If this happens, then I may look to buy in. If the bearish daily trend continues and we do not get our reversal, the next strong line of support is based off a monthly line around 10887486 SATS.
Bitcoin Afternoon Update 5/31/2018Good Afternoon,
Bitcoin has bounced pretty well in the last several days (yesterday especially), forming a nice A wave correction. At this point in time, we have likely reached a local top. The DeMarker is at 0.7, indicating we are in overbought levels and the Stoch is overbought and topped out on the 6 hour, indicating we get a B wave down in the coming hours.We have to remember we are still in a downtrend until clearly proven otherwise, and depending on how we interact on these levels we'll be able to tell more clearly whether Bitcoin wants to approach the upper bound trend line, retest the lower bound, or potentially later breakout on either side. On the 4 hour we are inside the Span B cloud, and that acts as a significant resistance area. Based on current price movements, I believe we correct to just under the BBands median (~$7450) before continuing higher upwards - likely to around the 6 hour Span B cloud at ~$7800 - before getting any continued major resistance. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
BCH Distribution Phase EI've been trading off this 4hr BCH chart for a while now with great success.
Key distribution touch points are in place with a weak bounce confirmation of the SOW break being where I added to my short significantly. I took a measured risk with a small entry through the opening LPSY level, added at first test and again on the clear break of SOW.
Pros:
Distribution touch points present
SOW break is clean with a failed second test
Guppy support through colour change on key areas
Cons:
Sell volume not as strong as expected through the channels
Strong bounce at first test breaking higher than I would like from the SOW range
Bounce potentially incoming that will need to be monitored
I'm looking for more downside but the indicators show it may be due another bounce here. A break of the previous high would be a concern for me. It looks likely to fail based on previous weakness of Stoch RSI wedge breaks in the downtrend. My short trailing stops have been established as we continue. I'd be looking for a 0.12 target which has seen signification S/R before.
BCH still dropping towards the 750 targetBCH is still dropping and very bearish at the moment. As long as it stays within this descending channel there is absolutely no reason to think about a rally any time soon. It has dropped out of that bear flag as well and has started to accelerate down again. The target of the H&S which i posted in my previous analysis on BCH is still not reached and is around the 700/800. For the ones who have shorted it from the highs it's always good to lock in some profits. Only a rally above the 1000ish could cool things down and might change things.
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Previous analysis on BCH
Bitcoin Morning Update 5/28/2018Good Morning,
Bitcoin recently spent some time in a descending triangle on a 5th impulse wave down and broke under as seen above. Yesterday, we retested the lower bound and broke under, as expected. We were at the top of the hourly BBands, and historically in downtrends a 100 level Stoch RSI has been fairly consistent in telling us that more down movement is ahead. The VPVR shows that our previous grim predictions are still likely to come true, with buy volume seemingly vanishing. Looking at the 6 hour () , we see that the 5th impulse wave, if this breakdown is as serious as it looks, will be over-extended, likely to add the length of the initial wave before the descending triangle, giving us a target of another $800 down, supporting the idea that we will land somewhere around the support zone of $6450, level 0 of our macro fib level. A contrarian look to the negativity lies on the daily () , where we seem to be on the C wave of a macro-correction, so despite bearish signs we still have to wait and see what happens once we interact with the $6k range. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Bitcoin Afternoon Update 5/26/2018Good Afternoon,
Today we're going to be looking at the macro 6 hour chart. We hit a low at ~$7250 and have since recovered to the $7500/$7600 range. However, looking at bear market trends, we see that whenever the Stoch hits about a 100, or anywhere around the white line pictured, we tend to go for another dive down. This supports the idea that we are in a bear flag right now, and the fact that we are at the top of the BBands suggests this is likely true. We are just at Span B resistance around the center of the 0.236 and 0.382 fib levels, and after we break down the next level of support lies at $6450. At that point, we either recover, form a double bottom, and form a large range between $6450 and $9950 or we explore what depths we can fall to. Buy volume is at its lowest point (with the chart pictured) as can be seen on the VPVR on the right, and really unless some manipulation happens and we get a large spike back to at least the 0.786 fib level the new bear trend will continue. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Bitcoin Update Evening 5/24/2018Good Afternoon,
As expected, Bitcoin bounced back from ~$7350 and is now consolidating just at $7500-$7600. This is allowing the Stoch to reset before more downwards movement likely retesting the next major fib level (our lowest point) at $6450. We just bounced off the 0.236 fib level and couldn't even make it to the Span B cloud. There is almost no volume here in the green, and the Stoch is approaching oversold with little price movement. We didn't expand that much on the 4 hr BBands downwards and are not even that far from the median line, suggesting our bearish predictions from the $9000 range are still continuing. The weekly suggests that unless we form a double bottom at $6450 that things will get much much worse. Though everyone used to dismiss ideas of extreme lows, if the double bottom doesn't happen we could see a gradual decrease into those ranges. On smaller timeframes, we hit the top of the Span B cloud resistance on the 30min and are soon to head back down in the coming hours. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Bitcoin Evening Update 5/22/2018Good Evening,
Bitcoin went on a stop run to stop out late shorters and fakingly broke through the Span B cloud before rapidly falling back down into our support box.
On all timeframes (4hr pictured) we see that the buying volume in this range is no longer that great so any immediate bounces seem very unlikely. Most timeframes are completely oversold and we might form a bear flag here before proceeding down further. We went as far as $7864, still in support, but sell volume has increased gradually and just tonight spiked up. On the 4 hour, the Span B cloud was closing up but expanded again. We are on the extreme lower bound of the BBands which makes it very likely a bear flag might form. Signs of the the top can be seen as we formed a reversal doji on 5/21/2018 and hit cloud resistance. The daily Stoch has just crossed back down and signs point to a revisit of $7000 USD and under. We can also see a swing high on the daily, but for the next few hours we will likely consolidate. All the best with your trading!
Written By: Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
BCC USDT BCH USDT is ready to go with BTC if support holdBitcoin Cash / USDT
Grab the chance now - dont wait too long will go up together with btc if resistance of btc will hold!
BuyZone
Perfect entry now
Target 1
1420
Target 2
1938
Target 3
2350
Time Frame
Midterm / Longterm
BCH - Massive Inverse Head and Shoulders spotted on the dailyWatch for a reversal on the right shoulder. If the inverse HS target price is hit, we could have a 50% gain. Currently at 30 on the 4-hour RSI and the daily RSI has come down quite a bit.