BCHBTC trade ideas
I Can't Believe It's Not Bitcoin! - BCASH! (BCH)Why buy BITCOIN when you could have the next best thing?! The Chinese Knock Off version!
But Crypto is throwing a party and everyone is invited - yes even YOU BCASH! Just don't throw up in my kitchen like last time.
This King Club of Turd Sandwiches, is somehow still around, and what...BULLISH?! Crypto, you wild!
Well anyways, I don't have a whole lot to say about this, I don't like trading this coin but someone asked me to take a look at it, and this is my take from a technical standpoint, on BCASH.
Long a breakout and make sure to take profit. Short the breakdown. Either scenario is very possible because of Bitcoin right now. I don't even want to go further. I don't even like being reminded this abomination even exists.
2019: THE YEAR OF BITCOIN CASH pt. 3In part 1, I analyzed the market caps of Bitcoin Cash 2019 to Ripple 2017
In part 3, I'm analyzing the price action of Bitcoin Cash 2019 to Ripple 2017
BCHBTC 2019 = XRPUSD 2017
1. Same pattern: sell off into M pattern
2. Identical 200D EMA
3. Identical 200D EMA breakout and breakdown
4. Identical 4 touch support found
BCHBTC 2019 = XRPUSD 2017
Next move: a ridiculous breakout
T1: .09
T2: .14
T3: .17
BCHBTC to New All Time Low. 90% drop short opportunity.EW count says it all really. Target is 0.003232, or a 90% drop from here over the next few months.
First target will be the 0.026 region. Depending on the bounce there, we can decide if this 90% drop scenario will play out. Stop should be on that white line.
A closer look at the elliott wave count. Note that we broke the upwards sloping support and there is literally no support from here. (Note that waves 3 and 4 are speculative at this point as we don't have a definite price point to measure it from yet, but this would be based off of fib levels from wave one to wave 2. I expect the white line sloping down to act as pretty strong resistance, which can give us an idea of time frame for this trade. BCH could turn bullish again if it broke this line.
MACD looks like it just suicided off a cliff.
Meanwhile, here is the USD pairing. Clear huge bearish wedge forming. Although in my opinion this one seems less bearish, it STILL makes sense to short the BTC pairing, assuming that BTC continues its parabolic move up, because we would not expect BCH to move up more than BTC.
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However, if the daily closes like this, it's best to lower the stop loss.
That's all from me. Please be careful with your trades and good luck!
Please don't forget to leave a like!
BCH - Long - tight SL - nice RRRThis is my setup.
In this current market we need tight stop losses. BTC is very volatile and alts can over-react.
BCH found here a bottom/support. This was before a strong resistance zone. This turned into support, has already been tested 3 times.
Please practice solid Risk Management here.
Like & Folow for more setups!
Bitcoin Cash falling further, before bounce upBitcoin Cash ABC has lost support on the 100MA and will likely now fall like a dead weight until it reaches at least the 200MA, where a bounce back up to the 50MA (which by then will have dropped from current levels) will be highly likely. This free Moving Average indicator is linked below...
Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link also below.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
BCHBTC: 70% in 19 daysBTCBCH reached its channell Dip today and we expect again a high to the top channel with a gain of 70%
BCHFirst 3hour close above trendline confirms breakout of symmetrical triangle, which started the 2nd of April. Good times coming up, good times!
What think about BCHI will be summarized and objective.
I look forward to breaking up this triangle and reaching the following targets. I'll take half the profits on the first one and watch it hold until the second or beyond.
Bitcoin Cash ABC (BCHABCBTC / BCHBTC) Looking Quite Bullish (50%We are looking at Bitcoin Cash ABC (BCHABC or BCH, depending on which exchange you are using) long term, weekly time frame, and the charts are starting to look quite bullish... Let's take a look:
Bitcoin Cash ABC touched bottom on early December 2018 just like Bitcoin, so Bitcoin Cash knows how to follow its dad. Anyways, after this low an uptrend formed, we know this by noticing higher highs and higher lows.
The growth stopped when BCHABC hit EMA50 (magenta line), which led to a retrace up to 0.618 Fib retracement from the last wave.
Now, this is where I see the bullish setup... There is no volume on the retrace. We have a dragonfly doji and still trading above EMA10. So not much down left to do, now we go up as our next move.
Bullish RSI.
MACD is bearish but trending towards the bulls.
With the altcoins market heating up and the phase we are on, it is only a matter of time before Bitcoin Cash ABC takes off.
Conditions for change: The first warning would come as a close below EMA10. The uptrend line (red dotted) still remains as support, but if BCHABC closes below 0.037000, then our bullish view is damaged and a new analysis is needed before the next call.
What's your take on Bitcoin Cash ABC?
Share your thoughts in the comments section below.
This is Alan Masters, thanks a lot for your continued support.
Namaste.
