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BCHBTC trade ideas

Bitcoin Cash's Massive Falling Wedge (8-9x ROI Potential)Looking at the daily chart for BCH, you can see the massive falling wedge that goes back to the beginning of BCH back in August of 2017. Using the wedge heights to predict our target price, we have the potential for a 8-9x gain here if either target is hit. Most exchanges have converted to a BCHABC chart which lacks all of BCH's previous price action history, so this may go unseen by many. BCH is almost 20x off its all-time high and it is no stranger to massive pumps. If the price can break overhead resistance, just buy and hodl. I am going to BUY ON THE BREAKOUT. Why? Well this resistance has rejected the price 5 times before minus the Nov 2017 pump. The MACD is a starting to capitulate at the zero line. If the price can't break through resistance, it may send the price down (possibly way down). I am secretly hoping for this so the gains are even greater upon breakout. Let's see what happens!
by jpbrown1023
1
Bitcoin Daily Update - Day 49 (0.3816 BTC) Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge When there is a nice pump in the crypto markets I like to look for laggards. The best one that I am seeing right now is Bitcoin Cash. Many will be thinking that it simply will not bounce because it is such a piece of shit fundamentally, however that is not my perception. I do think it is a complete piece of shit, but I also think it will bounce with the market. It is one of the most emotional coins out there - meaning the holders are doing so out of emotion and the stayers away are doing so because of emotion. Where there is emotion there is an opportunity to profit imo. Bitcoin Cash is a prime example of this. I really like the idea of taking profit on the positions that are moving in my favor and reallocating that into coins that appear to be lagging behind. That was essentially what I was able to do with LTC and then ETH. Hopefully the third time is also a charm! This brings up an important topic for me. I believe in technical analysis so much that I am comfortable disregarding the ticker. Who cares what the ticker is if the chart looks bullish af? I certainly don't. There is limitations once the market becomes too illiquid but I do not feel like that is the case with BCH. Hopefully I will change my mind sometime later this year due to a mass exodus. The overall bankroll is still not looking pretty but the unrealized profit currently sits at +0.333 BTC. I am very hopeful that this run can bring me back above 1 BTC for my trading challenge. If that happens then I will be in a very good position to get back into the green by shorting the bounce once it becomes exhausted. All we need is a little momentum and completing this challenge is still very well within reason! Open Positions Short XRPUSD Exposure: 6,300 XRP / 0.522 BTC Price: $0.307 Stop: $0.2959 Risk: 3.61% Partial Take Profit Order: $0.35 Unrealized Profit: +0.02911 BTC Long LTCH19 Exposure: 12 LTC / 0.113 BTC Price: 0.00946 Stop: 0.0111 Realized PnL: +0.0607 BTC Unrealized PnL: +0.0177 BTC *Entered stop order to add 23 LTC at 0.01291 with 0.01164 stop loss Long XBTM19 Exposure: $4,232 / 1.07 BTC Enter: $3,586 Stop: $3,586 Realized PnL: +0.0085 BTC Unrealized PnL: +0.1009 BTC Long ETHUSD #1 Exposure: 11.64 ETH / 0.43 BTC Enter: $122 Stop: $128 Realized PnL: +0.0374 BTC Unrealized PnL: +0.071 BTC Long ETHUSD #2 Exposure: 12 ETH / 0.444 BTC Enter: $116.63 Stop: $128 Unrealized PnL: +0.0888 BTC Long BCHUSD Exposure: 3.5 BCH / 0.1302 BTC Enter: $125.55 Stop: $125.55 Unrealized PnL: +0.018 BTC Open Order Stop Order to Long BCHH19 Exposure: 11 BCH / 0.4366 BTC Enter: 0.0384 Stop: 0.0399 Risk: 11.4%
Long
by Sawcruhteez
2
EW ANALYSIS: Bitcoin Cash Ready To Fly?!Hello Crypto traders! Let's talk about Bitcoin Cash! Bitcoin Cash was one of the first in which a rise occurred at the end of December in 2018. And now, it could be the first one that can complete a correction since we see both, BCHUSD and BCHBTC at important support area between 61,8% and 78,6% Fibonacci retracement! But, the most important from EW perspective is that we can clearly see a three-wave a-b-c corrective structure from highs, where wave "a" is a leading diagonal, wave "b" is a triangle and motive wave "c" ended by five waves! That said, we really like Bitcoin Cash for a potential bullish turn here, but we need confirmations, so if we see a sharp bounce or a five-wave rally away from current support area, followed by a break above previous wave "b" (BCHUSD above 167 and BCHBTC above 0.043), only then we can confirm a completed correction and we can start considering bullish scenarios! Invalidation levels remain at December 2018 lows! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
4