BCHBTC trade ideas
Looking at BCHBTC on a shorter time for long entry positions.----Check out my previous post on BCHBTC 1day time frame.-----
Looking for entry points on the 3 hour time frame.
The top of the ascending triangle is more defined and the probabilities are favorable.
Looking for entries toward the bottom half of the channel.
If it reaches the sell zone above before it completes the consolidation period, we will sell and buy back towards the center of the channel.
"Trading is like chess."
Check out my other post for long term projections.
Feel free to comment etc...
Good Luck all.
BCH catching a bid?BCHBTC seems to be breaking out of a near-picture-perfect falling wedge that has formed since December. 24H MACD and RSI indicating a possible reversal. Combine this with fear in the BTC markets outlined in a LTC idea here , and we have the potential perfect storm. BCH may be viewed as a potential alternative to any disruption of the BTC network... keep an eye on it.
BCHBTC Poised for Move Up - PrudenceAs you can see the resistance is the 3 Day Rolling Pivot Range high, that's the higher set of green dots. This is a key level that if broken through could carry us to higher levels. Already the price tested this level and failed. It wants to test it again.
Take note of the stop loss at the Opening Range low and the first profit target. There is a second profit target as noted by the green bar higher up. This is fast approaching the breakout level so I will publish now .
Stay tuned. I will update this as we progress.
BCHBTC Bullish flagFound a possible bullish flag for the BCH-BTC pair. Currently, BCH is sitting at .15 BTC. If this trend continues, BCH can make a run for .19 BTC which is very close to the 1.618 fib line. This trend is invalid if the price breaks down from the lower part of the channel.
RSI is at above 55 on the 4-hour chart showing strength and a bullish sign.
**NOTE** I am not an experienced trader. I am an investor learning TA. So please, take it easy on me.
**DO NOT use my published ideas for making decisions.
Recommendations are welcomed.
Again, I am not an experienced trader.
Maybe this SH!T isn't as complicated as we try to make it. BCH/BTC overall channel is well defined. Don't get caught up with the pumping and dumping along the way. I thought I had a pump and dump pattern figured out last month based on the BTC mining difficulty algorithm adjustment cycles, however the last few DAA's have been rather insignificant for the price. What we can clearly see, however, is the distinct uptrend channel.