BCHBTC trade ideas
BCH/BTC (New Higher Low To Stablish?)BCH/BTC
BCH is currently respecting this upward trend-line of support. After hitting it for the 1st time, a price reaction happened and BCH
is consolidating above this level. If this is the new Higher Low to set then there is a high probability to break the recent top at 332 sats.
Bitcoin cashShort term perspective.
It fell without receiving support at 20MA.
I'll have to check if it can rise above 20MA when a new candle comes tomorrow.
We should also check if we can get support at the 0.02737526 weak support level.
The pair failed to break above the weak uptrend line.
We need to check if we can support above the upward trend line.
Places where adding exposure to BCH might make some senseWhen the downward sloping trendlines since 2017 are broken to the upside in the BCH/BTC pair are broken, that might be places to add some exposure to BCH. Also when BTC holds its 20 wma now about $9300 as support, this will be one sign that BTC is in a new bull cycle that will hold until it reaches a new ATH and top in this cycle. Also some alts outperformed BTC when BTC reached its previous ATH at $1200 in March 2017 and continued this outperformance until the BTC top in Dec 2017 and a few weeks after that.
Bitcoin Cash
If it falls, you are likely to touch the 0.02344767 point.
If it rises, it is likely to challenge the 0.03176208 point, and if the price holds, it is likely to challenge the 0.04007649 point.
You can see that the price is located near the bottom of the midpoint (0.04007649) within the large box section between 0.02344767 and 0.05670531.
The price fell as the upward trendline broke.
The 165.3 branch divides the medium and long term investment areas.
The current position is a possible section when you slowly divide and rise into a buyable section.
We should check if we can rise above the upward trend line and cross 261.2.
BCH overviewThis chart is quite complicated for wave identification, but I will try. Big corrective wave (2) was finished at the end of September. Since then and nowadays wave (i) with ending diagonal in wave 5 was performed. Now we should wait for the end of wave (ii). From my point of view If BCH does not go up from the current fibo level of 0.61 - the correction can be quite deep, up to the level of 23.6 (look at the volume profile, there is no any support till this level)
Stop - Yellow line
TP - Green line
INTRADAY MARKET UPDATEThe red column indicates to sell and the green column indicates to buy... Look at the most recent bar to see if it is a buy or a sell. Follow us to get updates on here every 2 hours for our system!
To effectively use our system you need to trade XRPBTC , EOSBTC , XBTUSD , ETHUSD , LTCBTC , TRXBTC , ADABTC and BCHBTC all at the same time on BitMEX. Our research shows that by creating a portfolio of trades we can reduce the drawdown on our portfolios on BitMEX. We keep 8 positions (1 on each) open at all times and swing trade following our system.
We are committed to helping traders get to the next level
Expected profits for 12 months following our ideas.
1BTC to 30BTC X1 leverage
1BTC to 100BTC X2 leverage
1BTC to 1000BTC X3 leverage
Best regards,
Ryan Grey
BITCOIN CASH ... PRE-HALVING ACCUMULATION DOUBLE BOTTOMEverybody is focussed on the bitcoin halving on may 2020.
Don't forget that bitcoin cash will halve to.
In case of bullish market (I'm waiting for confirmation) BCH/BTC pair will give a maximum of trade opportunity.
If bitcoin price accelerate more after halving, bitcoins sons like litecoin or vertcoin have shown major increase pre halving and falls approaching/post halving.
BTC/USD halving
LTC/BTC halving
VTC/BTC halving
Interestingly pre halving peak on the alt/btc pair was approximatively 50 days prior to halving for both LTC and VTC.
Assuming a similar behavior and bullish market confirmation soon, bitcoin cash will beginn to run like a crazy for the next 3 months. After that again BTC only.
BIO
INTRADAY MARKET UPDATEThe red column indicates to sell and the green column indicates to buy... Look at the most recent bar to see if it is a buy or a sell. Follow us to get updates on here every 2 hours for our system!
To effectively use our system you need to trade XRPBTC , EOSBTC , XBTUSD , ETHUSD , LTCBTC , TRXBTC , ADABTC and BCHBTC all at the same time on BitMEX. Our research shows that by creating a portfolio of trades we can reduce the drawdown on our portfolios on BitMEX. We keep 8 positions (1 on each) open at all times and swing trade following our system.
We are committed to helping traders get to the next level
Expected profits for 12 months following our ideas.
1BTC to 30BTC X1 leverage
1BTC to 100BTC X2 leverage
1BTC to 1000BTC X3 leverage
Best regards,
Ryan Grey
INTRADAY MARKET UPDATEThe red column indicates to sell and the green column indicates to buy... Look at the most recent bar to see if it is a buy or a sell. Follow us to get updates on here every 2 hours for our system!
To effectively use our system you need to trade XRPBTC , EOSBTC , XBTUSD , ETHUSD , LTCBTC , TRXBTC , ADABTC and BCHBTC all at the same time on BitMEX. Our research shows that by creating a portfolio of trades we can reduce the drawdown on our portfolios on BitMEX. We keep 8 positions (1 on each) open at all times and swing trade following our system.
We are committed to helping traders get to the next level
Expected profits for 12 months following our ideas.
1BTC to 30BTC X1 leverage
1BTC to 100BTC X2 leverage
1BTC to 1000BTC X3 leverage
Best regards,
Ryan Grey
Looking Possibly BullishWith new all time highs in US equities indexes we should see that spill over into the cryptocurrency markets.