BCHUSD.P trade ideas
Bitcoin Cash Long-Term Ascending Channel Since 2018We have a very clear and strong ascending channel for Bitcoin Cash vs the Dollar (BCHUSD)... Join me in reading this chart.
The All-Time Low was hit in December 2018 for this Altcoin trading pair.
Ever since this low, a new uptrend has developed.
We have signals pointing to the end of the current correction which can lead to a new bullish wave ending in a higher high since so far we have a higher low.
You can find additional information on the chart.
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💡Don't miss the great buy opportunity in BCHUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (328.0).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BCHUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 69.
Take Profits:
TP1= @ 347.2
TP2= @ 360.8
TP3= @ 373.1
TP4= @ 384.2
TP5= @ 396.5
SL= Break below S2
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💡Don't miss the great buy opportunity in BCHUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (328.0).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BCHUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 347.2
TP2= @ 360.8
TP3= @ 373.1
TP4= @ 384.2
TP5= @ 396.5
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
BCH weekly chart still Intact?BCH on the weekly chart is still intact. The DeMark 9 indicator reads
it has hit the bottom.
If BCH can get some buying volume, it has to break the Hull Suite Indicator
and it then can move up to above trendline and
pursue its way to previous 2021 Highs at $1600. BCH must not break support
at $336 and then $248, I dont believe it will happen but the RSI is at the bottom
of the trendline as well.
Bitcoin Cash - BCH - Seriously BullishI Can see a 138%^ Projected bullish uptrend in the coming months, you will see.
The block size being increased will allow for this to accelerate.
COINBASE:BCHUSD
KRAKEN:BCHUSD
BINANCE:BCHUSD
BITSTAMP:BCHUSD
BINANCEUS:BCHUSD
BITMEX:BCHUSD
FTX:BCHUSD
PHEMEX:BCHUSD
BITTREX:BCHUSD
GEMINI:BCHUSD
TRADESTATION:BCHUSD
CAPITALCOM:BCHUSD
POLONIEX:BCHUSD
As you can see from various Ideas I'm never wrong.
BCHUSD D1 Hello traders This is an analysis based on a combination of harmonic patterns and Gann Fan. At the moment, there is a butterfly pattern that I specified in the prz area, and if Price Action is approved, we can expect the price to rise and return from this level. Meanwhile, in this analysis, two Gann fans have been drawn, the price of which is on a support line of this Gann fan, and the main targets for the projected ascent are based on the Gann fan drawn, based on the previous main pivots. Don't forget to like and share !
Bitcoin Cash? More Like Bitcoin CRASH!Bitcoin Cash (BCHUSD) has continued to pull back lower and sharper. We have hit a support at around 262, which may be the final low for our GREEN primary pattern.
Green Primary Pattern
Breaking the December 3rd low tells us that we are now pulling back deeper in a more conventional 5-wave C-wave instead of a 3-wave zigzag. If we are done with the correction or close to done, we'll have a to see a sharp impulsive 5-wave structure up really soon! Seeing anything other than this would more or less invalidate the GREEN pattern.
RED Alt Pattern
Turning back up and rallying in a clear 3-wave structure would make it very likely that the RED is the primary pattern in operation. This would call for a corrective bounce back up before a much deeper crash to complete the larger impulsive C-wave down. However, I am seeing this as a smaller and smaller possibility as this leg of the pullback is getting too far stretched downward to be counted as only a 1st wave. Breaking below 219 makes it far more likely that the PURPLE pattern is in operation.
PURPLE Alt Pattern
Stretching directly lower would instantly make the PURPLE pattern our primary. While the chart shows BCH going as low as 115 or so, there are several strong Fibonacci confluences below, any of which could form a bottom. The 186 extension is the point at which the C-wave would be the 1.00 extension of the preceding A-B structure, and this is typically the strongest possibility for the end of a correction. Seeing any kind of impulsive 5-wave rally upward would likely signal the end of the PURPLE correction.
Check out my YouTube explainer vid on BCH!
I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.
#bitcoincash #bitcoin #cryptocurrency #bitcoinmining #bitcoinnews
Bitcoin Cash (BCH) - Bullish divergenceOn the above 1-day chart price action has corrected almost 80% since the highs in May @ $1620. A number of reasons now exist to be bullish, including:
1) Price action prints a ‘incredible buy’ signal following a breakout of price action resistance.
2) Price action bounced from the 0.618 golden ratio as measured from the 2020 March lows to the 2021 May highs. Wonderful.
3) The orange line at the golden ratio is fascinating and significant support and resistance, look left. All the way back to 2017 (below). When price action confirmed support a 10x move followed. Not saying that is going to happen again, but it highlights the significant of this level. Bulls will defend it until the end.
4) The 3-day BCH / BTC pair is printing a significant bullish divergence following a ‘incredible buy’ signal. 10 oscillators are currently printing bullish divergence. Don’t ignore that!
Is it possible price action falls further? For sure.
Is it probable? Very unlikely.
Good luck!
WW
2017 daily chart support / resistance
3-day BTC pair