BchAlthough we broke down from a larger ascending triangle. Then created a descending
Traingle and broke down further. We started considlation between 566-588 588 came in as resiatxne. Whenever we broke it we pumped up to between606-640$. Now as we recently got rejected at 640 level we came back and are attempting to flip 588 into new support. As all of this correction in crypto occurs everyone is scrambeling to decide if this is a start to a bear market or correction in a bull market. As for alts they are going sideways as BTCD is picking up steam. I do belive this will contiue for a while however in BCH case even though itโs struggling to her higher then 730$ it is slowly setting itโs self up for potentially a big run later when dominance decides to fall. As long as we can from here on out, remain above 540-585 we should be doing pretty well. Keep eye on that 588isj level to contiue to hold as support !
BCHUSD.P trade ideas
BCH/USD SHORTBCH /USD SHORT
**Still waiting for entry**
**Will enter on confirmation of confluences starred below**
Here are my reasons for looking to enter a short position on BCH /USD.
The confluences for my entry:
โ Strong overall downtrend
โ Rejection of major key level order block
โ Rejection at the 0.5 Fibonacci Retracement level
โ TD Sequential printing a 9 on the 2HR
โ Double top on smaller timeframes
โ Crossing back below the 55EMA**
โ Stochastics momentum heading down**
โ RSI Momentum heading down**
I will a short position with a stop loss above the wick of the reversal candle/TD Sequential 9
** this is not financial advice **
Bitcoin Cash (BCHUSD): Harmonic Bat Pattern Spotted
Potential harmonic bat pattern formation is spotted on BCHUSD 8H chart.
The completion point of the pattern lies within a strong demand zone 468 - 502.
From that zone, a pullback will be expected.
Closest levels for goals:
613
715
โค๏ธ Please, support this idea with a like and comment! โค๏ธ
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Bitcoin Cash, Developed Descending-Channel, Potential Breakout!Hi,
Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. Bitcoin Cash has moved into an interesting constellation as it developed this main descending-channel-formation in the structure with the coherent wave-count within and the waves A to D almost already completed. Now Bitcoin Cash is moving forward with the protracted wave E that will complete the whole wave-count and when Bitcoin Cash manages to bounce within the confirmational-bounce-cluster marked in blue this can be the possible origin for a channel-breakout to the upside, therefore it is highly necessary that Bitcoin Cash rightly manages to bounce and show up with further bullishness to the upside, otherwise when falling below the lower boundary the bullish scenario can also invalidate, it will be an important development ahead.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
BchSeems to be setting up for a nother pop above resiatnce. We canโt seem to find support on top of the patterns resiatnce but have popped it earlier this morning. This resiatnce comes in at 724. We need to find some support up here to show that we have finally exited this consildation. Donโt be faked out or fooled just keep an eye on 724 area also recent rejection came in at 735 so letโs see if we can see anything happen above that level also
๐โฟ๐๐ฉ๐๐ค๐๐ฃ ๐พ๐๐จ๐ at a crossroads ... ๐คทโโ๏ธโโ Mine scenario
โ BCHUSD (COINBASE):๐1D
"Fig.1"
The rise from the orthodox bottom of the triangle โฃ formed a five-wave structure in the form of a diagonal, at least this variant of count can be applied to this structure in the context of the highest degree. The subsequent three-wave advance, which is labeled (2) , supports this idea. Cancellation of the scenario and, as a consequence, activation of the alternative wave count, - upon the breakout of the orthodox bottom โฃ , the level "invalid" ..
โ BCHUSD (COINBASE):๐4h
"Fig.2"
"Fig.3"
Agree, the wave structure is extremely complex and its interpretation is ambiguous. Figures 2 and 3 show you two options for count, both of which are conducive to continued growth, the only question is: is the correction (2) formed or we are expecting a deeper rollback within the "black" count?
From the level of $ 600 there was a recommendation for a long-position. Upon reaching the levels of $ 880-1020 , we may partially reduce the volume of the long-position and prepare for a price decrease within the framework of an alternative count.
โโ Alternative scenario
โ BCHUSD (COINBASE):๐1D
"Fig.4"
The global alternative wave-count suggests a large triangle in the primary wave โฃ , within which a three-wave advance of the sub-wave (C) is expected.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
BchIf we can hold this 714 level as new support this would
Be great we are nearing the end of the apex so canโt go much lower then 712 tbh unless it fake wicks down. Hasnโt broken out yet but itโs getting sqeezed. Def got my eye on this level we are at as well as watching BtC for its next move
Bitcoin Cash, Potential Flag-Formation, How It Completes!Hi,
Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. Bitcoin Cash bounced with this initial bullish move to the upside where it now firstly pulled back however these pullbacks were not that strong and Bitcoin Cash managed to hold the structure in which it now established this descending-channel-formation with the coherent wave-count within and the waves A to C almost already completed. When Bitcoin Cash now moves on to stabilize further in the structure this can lead to a sufficient breakout above the upper boundary and when this happens it will be the setup for further continuation and completion of the channel-formation as a bull flag. For now, it is important to elevate how Bitcoin Cash moves on with the potential breakout, it will be an interesting journey ahead.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the market.
Bitcoin Cash (BCH) - June 2Hello?
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-------------------------------------
(BCHUSD 1W Chart)
(1D chart)
You should watch for any movement out of section 625.76-785.84.
If it goes down, we should see if we can move up along the uptrend line.
If it falls from the 625.76 point, a Stop Loss is required to preserve profit and loss.
If it finds support by moving towards the 785.84-865.88 section, I would expect a reversal of the uptrend line.
-------------------------------------
(BCHBTC 1W chart)
(1D chart)
It remains to be seen if it can move above the 0.018878 point to find support.
If it goes down, you should check to see if it finds support at the 0.016063 point.
To convert into an uptrend, it needs to rise above the 0.019459 point and find support.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
BCUSDT silent moverBeen Watching BCH.. looks to be a slow mover, but I think it has some fast upside potential as the market determines what its doing. Recall earlier chart it wanted to break out, but BTC entered its downward bear market cycle. I think BCH just trying to make a name for itself while BTC takes a nap. Lets see what happens. I got intermediate target and final target market (grey lines). Intermediate just means expect a pull back and possible rise back up to the target.