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BCH/USD "Bitcoin Cash" Market Money Heist Plan on Bullish SideHallo! My Dear Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist BCH/USD "Bitcoin Cash" Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Entry 📈 : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Point. Stop Loss 🛑 : Recent Swing Low using 2h timeframe. Attention for Scalpers : If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
BITSTAMP:BCHUSDLong
by Thief_Trader
Bitcoin Cash BCHUSDT Rockets to TP1! Remaining Targets on Watch!Technical Analysis: On the 15-minute timeframe, Bitcoin Cash (BCHUSDT) has successfully hit TP1 in a long trade setup, showing strong bullish momentum. The price has moved above the Risological dotted trendline, signaling an upward breakout. Key Levels: Entry: 350.85 Stop Loss (SL): 344.45 Target 1 (TP1): 358.80 (Done) Target 2 (TP2): 371.60 (Pending) Target 3 (TP3): 384.40 (Pending) Target 4 (TP4): 392.30 (Pending) Observations: The price made a steady climb after breaking through the entry level, driven by positive market sentiment. Risological dotted trendline acted as support, boosting confidence for long positions . With TP1 successfully completed, Bitcoin Cash is now aiming for higher targets. Keep an eye on price action as it approaches TP2 and beyond, as the bullish trend looks likely to continue.
Long
by ProfitsNinja
1
BCHUSD / Bitcoin Cash Market Money Heist plan in UP SideMy Dear Robbers / Traders, This is our master plan to Heist Bitcoin Cash BCHUSD market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Stop Loss : Recent Swing Low using 2h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
COINBASE:BCHUSDLong
by Thief_Trader
BCHUSD Bitcoin Cash/USD Bearish Robbery Plan To take moneyMy Dear Robbers / Traders, This is our master plan to Heist BCHUSD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Green Zone that is High risk Dangerous level MA act as a Dynamic Support & Order Block, So the Market is oversold / Consolidation / Trend Reversal at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: Day traders & Scalpers If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money Use Trailing Stop To Protect Looted Money and wait for next breakout of dynamic level / Order Block, Once it is cleared we can continue our heist plan to next new target it will update after the Breakouts. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
Short
by Thief_Trader
Cryptolean Bitcoin Cash BCH Update Bitcoin Cash is trying to reverse from the daily support zone of $377-$395. A bullish reversal from this support zone will result in a move to re-test $435-$451. A bearish break-out of $377-$395 will push BCH price lower towards $341. Intraday Chart The BCHUSDT 4-Hour chart is trying to escape bearish zone and get back to above $389. A bearish rejection of $389 will lead to Bitcoin Cash price declining to $303-$327, the key intraday support zone, however on the way to this zone BCH will have to deal with $361 support. A bullish break-out of $389 will push price to re-test $442, however the price action may be slow and choppy. Support once read! Thank you.
COINBASE:BCHUSD
by Trade-Lean
BCH rally update!Hey friends hope you are well, and welcome to the new update on Bitcoin Cash (BCH). Falling wedge breakout: On a weekly time frame, the 15th largest cryptocurrency has broken out a falling wedge pattern. Big symmetrical triangle: After the breakout Bitcoin Cash was not able to continue the rally because of a resistance of big symmetrical triangle. Bull flag: On a daily time frame, priceline of BCH has formed a bull flag and target for this bull flag is almost $1000. Conclusion: Bitcoin Cash has broken out two major resistance levels of a falling wedge, and a big symmetrical triangle. Now the bull flag formation is signaling to the continuation of the rally.
Long
by moon333
2
Bitcoin Cash Channelling Higher Towards 650Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Bitcoin Cash. Trend Analysis The main view of this trade idea is on the 2-Hour chart. The cryptocurrency is in an upward trend channel, with the lows around the 386 and 488 price levels. Also based on a market profile, Bitcoin Cash is currently trading within a confluence or support/resistance zone, which would indicate some level of consolidation and choppiness. Technical Indicators Bitcoin Cash recently crossed above its short (25-SMA), medium (75-SMA) and fractal moving averages as it held the lower support trend channel. The RSI also crossed around the same time that support was held. Moreover, the KST confirmed the bullish move with a positive crossover. Recommendation The recommendation will be to go long at market. At the time of publishing Bitcoin Cash is trading around 531.75. The medium-term target price is observed around the 650 price level, which is the bottom at the confluence zone while a stop loss should be set around the 490 price level. This produces a risk-reward ratio of 2.83.
KRAKEN:BCHUSDLong
by Ceddy86
1
Bitcoin Cash (BCHUSDT/BCHBTC) Daily Trade Setups 2021/02/20Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out! If you like this post, please support me by clicking the like and follow buttons. Also feel free to share your thoughts and analysis in the comments below! And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins! Trade Setups Below are the potential trade setups that I would be interested in trading: BCHUSDT Long Trade Setup #1: Retest and Continuation (200MAs) 1. Price Action: Price needs to move back down to the 200MAs, currently projected to be @ $660-675 by the time price reaches it, and bounce back up. 2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming Long Trade Setup #2: Breakout and Continuation 1. Price Action: Price breaks above and falls back down to $774 and bounce back up. 2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming Short Trade Setup #1: False Breakout 1. Price Action: Price breaks above and then falls below the high @ $774, forming a bull trap 2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown candlestick, above average volume on both breakout candle and breakdown candle, MACD topping out BCHBTC Long Trade Setup #1: Retest and Continuation (61.8Fib) 1. Price Action: Price needs to move back down to the 61.8Fib @ 0.0125 and bounce back up. 2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming About Me I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016. I have worked on Wall Street trading bonds, stocks, and options. I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward. Why Follow Me Daily analysis on the latest market movements and price zones for high probability trade setups. Sharing of live trades that I take. A great place to help each other, learn from each other, and grow together. Trading education including a comprehensive cryptocurrency trading eBook, personal advice, and other educational materials Constantly testing and adding new trading strategies and refining battle-tested ones. DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
by cryptotraderog
BCH-4h. The price goes to the range of $ 257-268.The month on the BCH market passed in a wide consolidation range. Buyers managed to barely update the previous high and give false hope to buyers to continue the trend. Since December 21, the price has fallen by 25% virtually unhindered. The main volumes are concentrated within this consolidation in the range of $310-320 . Buyers have lost control of this range. If BTC does not break the $22,500 mark and goes to update the historical high - BCH buyers have a chance to regain control of $310-320 . However, it is safest to buy a coin in the range of $257-268. ________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
by P_S_trade
5
Bitcoin Cash - $BCH - Back in Business!WAVE 3 in progress! The best time to buy is now! I'm LONG / BULLISH position. I expect that $BCHUSD will rise up. This would mean that BITCOIN CASH will gain more value against USD. What is the right way? Looking for relevant timeframes, with patience and planning, NO DESPERATION . No one goes into the market thinking they should buy at the high and sell at the low. The problem is that at the moment when faced with the ups and downs of the market, it’s hard to resist the urge to do those things. Trading is all about spotting emotional excesses either to the downside or the upside. You want to be on the right side of those emotional reactions and not the wrong. If you want to win in this market, you need to be COLD and CALCULIST . To the moon is too close, go beyond!!! Well, keep you updated as this timely issue evolves. Good luck! #CRYPTO $BCHUSD #BCHBTC #BCH #BITCOINCASH #ALTSEASON2020 $BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP #altcoins #bitcointrading #BuyTheFear #BuyTheDip
COINBASE:BCHUSDLong
by ferGOD
BCHUSD Has Formed Very Big Bullish Gartley Setup For Big MoveHi friends hope you are well and welcome to the new update on Bitcoin cash. In my previous post I explained why the Bitcoin cash can move down to hit the support of the wedge. At this time the price action is at the support of the wedge pattern now we will try to understand what the price action can do next. The movement within a wedge: Price action of Bitcoin cash is moving within a wedge on daily chart since March 2020. At this time the price action is moved down up to the support. If we watch the balance of power indicator then it can be clearly seen that the balance of power is distributed equally between the bears and bulls. I have also placed the moon phases indicator on this wedge pattern. And we can observe that the new dark moon is appeared above the support of the wedge that is very positive signal. Now it will be difficult for the price action to cross down this level of dark moon. If we watch the volume profile that I have placed on the complete priceline of BCH moving within this pattern then it can be easily observed that the trader’s interest is very low below $225 and from the upside it is very low above $255. So it is showing that the priceline is moving at the level where the trader’s interest is very weak therefore the price action can move up to the resistance from here. Formation of bullish reversal pattern: In previous post we have already seen that the price action of the BCH is forming the different harmonic BAT patterns with the consistency and continuity on the daily chart. First it formed a bearish BAT then it formed a bullish BAT then again price action formed a bearish BAT move as below: now again the price action has formed another bullish BAT pattern. And at this time it is gearing up from the potential reversal zone of this new bullish BAT. This is BAT is a clear sign of a bullish reversal of the price action of BCH. Now we can expect that the priceline will be moved up to the resistance of the wedge pattern to make another attempt for the breakout. At the support: After the drop of March 2020 the price action bounced from the last support of $170 and broke out the next resistance level of $225. The next resistance level would be at $304. At this time the price action is moving at the support of $225 but as all signals are moving in the favor of bulls therefore this time we can expect that the price action will move up to next resistance level to make an attempt for breakout. A very big bullish Gartley formation: Now I would like to take you to the monthly chart where the price action has formed a very big bullish Gartley pattern. At this time the price action is moving in the potential reversal zone of this big bullish Gartley. Now as per Fibonacci sequence the potential reversal zone or buying zone and Fibonacci projection area or sell zone are as below: Potential reversal or buying zone: $242.32 to $167.94 Fibonacci projection or sell zone: $300.84 to $441.41 After watching these targets we can expect up to 160% bullish rallyby this big bullish Gartley pattern. But if the price action will be able to cross up 0.786 Fibonacci projection of A to D leg then the Bitcoin cash can start a very big parabolic bullish move that can lead the priceline to achieve higher than the previous highest price ever in the history of Bitcoin cash. Conclusion: From small time period to long term time period charts all patterns and indicators are turning bullish. Therefore we can expect a bullish reversal move from here at least up to the resistance of the wedge pattern. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
BCHUSD | A Downward Correction Rally Before Bullish MoveHi friends hope you are doing good and welcome to the new update of Bitcoin cash. After the strong best trend that was started from Feb to March 2020. The price action of the BCH completed the final bearish leg of bullish Shark pattern on the 4 day chart. And on 19th March I posted an idea on this move of Bitcoin cash. I predicted as per Fibonacci sequence of this bullish Shark the price action should move up and enter in the Fibonacci projection area of C to D leg from 0.382 to 0.786 Fib projection. And finally after mid of March the price action moved up and as per prediction it entered in this Fibonacci projection area. And so far it has produced more than 56% bullish rally. Wedge formation and moon phases are giving bearish signals: Now on the daily chart the price action of Bitcoin cash is moving in a wedge since March 2020. The Bitcoin cash has several touches at the support and the price action has also made several attempts for the breakout. But so far the BCH is not able to break out the resistance of this wedge. Here I have placed the moon phases indicator. On upside you can watch the full moon and on the downside the dark moon can be seen. The distance between one full moon to another full moon and from one dark moon to other dark moon is called synodic cycle that is 29.5 days long. Now after the completion of the recent synodic cycle we can see that the new full moon was appeared down than the previous full moon. And the new full moon is inside the wedge below the resistance. And the recent dark moon was appeared below the support and it down than the previous dark moon. So here the moon phases indicator is giving the bearish signal and indicating that the price action might be moved down from here. Moreover I've also placed bollinger bands indicator and we can see that the upper bands of the bollinger bands is below the resistance of the wedge pattern and the price action is not able to cross up the resistance of bollinger bands and can start another downward move up to the suppor. here I have also implemented the volume profile indicator on the complete price action moving within this pattern that is showing that trader’s interest is strong up to the support that is around $225. Therefore a possible move up to the support is expected. However we take a look at volume indicator then even though there is not a big volume but buying volume is being appeared with the continuity and consistently, therefore the buying volume can cancel these bearish signals. Now if we take a look at the balance of power indicator then it can be clearly observed that the balance of power is equally distributed between the bears and bulls. On the chart there are 6 obvious downward moves and 6 openly upward moves by this indicator. And the price action is also following the moves of the balance of power. At this time this indicator has made its 6th upward move and the price action has reached at the resistance. Therefore we can expect the seventh downward move by this indicators. Consistent formation of BATs: Now let me show you the formation of different harmonic BATs with the continuity. On the daily chart the price action of BCH has completed the formation of third BAT pattern and it is forming these harmonic patterns consistently. Let’s dig these patterns out to watch the how perfectly they are formed: After initial leg the A to B leg is retraced between 0.382 to 0.50 Fibonacci. And B to C leg is projected between 0.382 to 0.886 Fib projection of A to B leg. And the final leg has been retraced between 0.786 to 0.886 Fibonacci retracement level. And all these BATs has followed the same Fib sequence. Therefore after the completion of third bearish BAT pattern we can expect a downward move from here. Simple moving averages and resistance of 200 SMA: Now if we watch the simple moving averages with the time period of 25, 50, 100 and 200 then the price action has crossed up all the moving averages. But only 200 SMA is left to crossed up and if we take a closer look on the chart then it can be easily observed that since April 2020 the price action has made several attempts to break out this simple moving average but so far it is unsuccessful. And at this time the priceline of BCH is struggling at this 200 SMA resistance level again. However this time the priceline of Bitcoin cash has the support of 100 simple moving average, therefore if price action will be dropped from here then it may re-test the 100 simple moving average as a support before any other move to the upside. Support and resistance levels: I the month of Feb 2020 the price action was very strong bullish and reached very close to the key level resistance of $500 but unfortunately after reaching at $497 a strong bearish trend was started that leaded the priceline to the first support at $147. After getting bounced from this support level the priceline of BCH broke out the next resistance of $220 and re-tested the previous resistances as support and moved up to breakout the next resistance at $260. So far it is moving between these support and resistance levels between $220 and $260 and now it has formed a parallel channel between these levels. Once the price action will breakout this resistance then it can go to the next resistance at $304 and after breaking out $304 the next resistance would be at $355 and in case of breaking out this hurdle the key level resistance would be at$ 500. If the priceline will breakout $500 then it can reach the highest right ever in the history of Bitcoin cash very soon. Ichimoku cloud and directional movement: On the long-term weekly chart the Bitcoin cash is never able to cross up the ichimoku cloud since this cloud is appeared in the history of BCH as per coinbase exchange. We have witnessed several attempts since may 2019 to break out this cloud but unfortunately so far the price action is moving below the cloud. This time the cloud is turned very weak and the lagging span of the ichimoku is crossing up the candlesticks. This is the first bullish signal that we have received now we can wait for the conversion line to cross up the baseline. And once it will be happened then the ichimoku cloud will be turn bullish and it will be easy for the priceline to breakout this cloud and breaking out this cloud will become a very strong support for the price line of Bitcoin cash to start a very long term bullish rally. If we take a look at directional movement indicator then positive directional indicator has crossed up the negative direction indicator. That is the bullish signal indicating that on the long-term the Bitcoin cash can started a bullish rally. Before this in April 2019 when the positive directional indicator crossed up the negative directional indicators then Bitcoin cash produced 330 % bullish rally. And after that in January 2020 when again +DI crossed up the –DI then the price action of Bitcoin cash started a bullish rally up to 138%. Now the wait is only for the ADX to move up to assign the power to the bulls. Big bullish Gartley a firm signal for long term bullish move soon: Now I would like to recall a very big bullish Gartley pattern that is formed on the monthly chart by the price action of Bitcoin cash. I also a posted this pattern in my previous post as well. After entering in the potential reversal zone now the price action is moving just above this PRZ level and it can start movement to the upside very soon. This bullish Gartley can be very helpful for the priceline to start a long term bullish move. Conclusion: On the daily chart the bearish signals are more than the bullish signals. Therefore we can expect a correction rally up to the support of the wedge that has been formed on the daily chart. But on the long-term chart the Bitcoin cash is turning very strong bullish specially after the completion of very big bullish Gartley pattern on the monthly chart. So the countdown for a very big upward move has begun. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
2
Will Bitcoin Cash Breakout $500 Key Level Resistance???A double top at resistance level: Hi friends hope you are well and welcome to the new update on bitcoin cash in today's technical analysis will will try to find out the different bearish and bullish signals and patterns. First of all I would like to take you to the daily chart where we have the different support and resistance levels and if we take a look back in the month of March 2020 then we can see that after the waterfall crash the priceline has hit at the support at $147. And from this support the priceline recovered and broke out the $200 resistance again. And after breaking out the 200 resistance level it has re-tested the previous resistance as support and moved up to break out the next resistance level at $260.But here we have some critical situation cause after a hard attempt for breakout in April 2020 the priceline dropped down again and moved up to re-attempt for the breakout from $260 resistance level. But again the price action is dropping down. So if this drop will be continued then we will have a double bottom formation that can produce more strong bearish rally to the downside. The priceline is being rejected by the SMAs: Now if we take a look at the different simple moving averages with the time petiod of 25, 50, 100 and 200 on the same daily chart then it can be easily observed that first priceline broke out the 25 and 50 simple moving averages but when the price action attempted to break out the 200 simple moving average then it is rejected by the 200 SMA. The 200 SMA is almost at the same level where we have the $260 priceline resistance. So the priceline is being rejected at the same time by the $260 priceline resistance level and the 200 simple moving average resistance level as wel. And the Bitcoin cash is forming a double top formation on the chart of the moving averages as wel. Now it can be easy for the price action of Bitcoin cash to break down the 25 and 50 simple moving average supports. Because the pressure from the upside is stronger than the pressure from the downside. As we have bigger moving averages above the price action and those are 100 in 200 SMAs and smaller moving averages below the priceline and those are 25 and 50 simple moving averages. Priceline could not reach the resistance of up channel: The BCH has also formed an up channel on the daily chart but this time the Bitcoin cash could not reach up to the resistance of this up channel. If the price action will break down the support of 25 and 50 simple moving averages then it can also break down the support of this channel as well . Because we have the 25 simple moving average at the same level where we have the support of this up channel and in case of breaking down the support of the channel the priceline can easily reach at the support of $200. The bullish harmonic move on long term chart: Now I would like to take you to the very long term monthly chart and here we have a very positive move by the price action of Bitcoin cash. And that is the priceline of BCH has formed a very big bullish gartley pattern same as like the Bitcoin has formed on the monthly chart. Even though the price action has spiked beyond the support of the potential reversal zone of this pattern. But within very next cande stick it has been retraced back in the potential reversal zone. Therefore we can ignore the extra spike. Here I would like to recall a bullish shark harmonic move of the Bitcoin cash that I posted on the 19th of March 2020 in my previous article. This was the pattern that helped the priceline to re-enter in the potential reversal zone of the big bullish Gartley pattern that has been formed on the monthly chart. As we can see that after entering in the buying zone of the bullish shark pattern on the 4 day chart the BCH took a powerful bullish divergence that produced more than 102 percent profit. Now from the buying zone of the bullish Gartley pattern we can expect up to 163% profit spike. So if you want to take it as a single trade then you can buy it within the potential reversal zone of this big gartley pattern and sell it within the Fibonacci projection or sell area as I have defined on the chart but in this case you should make your stop-loss the potential reversal zone that is up to $168. But if you want to hold it for the long term then you need to watch out for the breakout from the different resistance levels as we have discussed on the short-term daily chart. And if you are looking for that Bitcoincash achieve the highest price ever in its history then we need to watch out for the breakout from $500 resistance level. That is the strongest key level resistance for the Bitcoin cash. Bullish Shark on 4 day chart: Ichimoku cloud: Now I would like to take you to the weekly chart where long term bullish signal can be appeared in the future by the ichimoku cloud. As we can see that so far the price action of Bitcoin cash is not able to cross up the ichimoku bearish cloud. Once in the month of February 2020 the price action crossed up this cloud but during re-testing the cloud resistance as a support it was filled and drop down again. Once the priceline of Bitcoin cash will be able to cross up the ichi moku cloud successfully then the Bitcoin cash can turn bullish on the long-term for the next 2 or 3 years. Conclusion: If the price action will be not able to break out the next resistance levels on the daily time period chart. then we can witness further downside rally. But on the long-term the Bitcoin cash has formed is very big bullish patterns therefore on the long-term it is bullish. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
1
Bitcoin Cash: Descending Channel Consolidation 4H (Apr.23)X FORCE GLOBAL ANALYSIS: In this analysis, we take a look at the technicals demonstrated in the chart of Bitcoin Cash (BCHABC) Bullish Evidence - Previously, we have seen parabolic breakouts for Bitcoin Cash after consolidation phases - It could be said that we are currently consolidating within a downwards parallel trend - This could turn out to be a textbook bullflag pattern - We are still above the 0.236 Fibonacci Support - The Relative Strength Index (RSI) shows higher lows Bearish Evidence - We are in a downtrend, creating techincal lower highs and lower lows - We have broken down from the 0.5 Fibonacci resistance, the 0.382 Fibonacci resistance, and now possibly the 0.236 Fibonacci resistance - The RSI also shows lower highs - The Moving Average Convergence Divergence (MACD) demonstrates mixed signals and a lack of momentum to drive a bullish breakout What We Believe We believe that Bitcoin Cash will continue its bullish rally only given that it breaks through and closes above the descending parallel channel trend line resistance. Trade Safe.
COINBASE:BCHUSD
by XForceGlobal
2