Bitcoin Cash ($BCH) Next Growth Challenge Bitcoin Cash (BCH)
The performance of Bitcoin Cash (BCH) has been somewhat restrained since Bitcoin's rise began in mid-October. The asset only grew by about 25% over the month, but this growth has already been negated.
Currently, BCH is on a downward trend, trading within the support zone of $206-$215. This is the same range from which BCH started its upward journey on October 16. If Bitcoin continues its correction, BCH might set new local lows. The first target for sellers would be the psychological level of $200.
For BCH to start an upward movement, buyers need to show strength and break through the resistance zone between $235-$245 with significant trading volume. The next challenges for growth would be at the $250 level and then within the seller's range of $258-$270. Overall, in its current state, BCH doesn't seem to be an attractive option for spot buying, so it might be prudent to avoid long positions for now.
BCHUSD trade ideas
BCH Long ideaBCH has been bouncing around this channel since mid August. It just bounced off the bottom of the channel and might be a good play here to hit the median and top of the channel.
I'd look to long until it hits that target area. If there's a close outside of this channel, it would invalidate this idea.
BCH Price Outperforms Bitcoin And Teases A 30% Jump!Strong Support at 50D EMA: Bitcoin Cash (BCH) finds solid support at the 50-day Exponential Moving Average (EMA), setting the stage for a potential reversal rally.
Ascending Triangle Formation: The BCH price chart shows an ascending triangle pattern, indicating a possible bullish breakout.
$300 Price Target: A successful bullish breakout could propel BCH to reach around $300.
Year-to-Date Growth Comparison: Bitcoin Cash has a Year-To-Date (YTD) growth of 145%, surpassing Bitcoin's 120% YTD growth.
Impact of Bitcoin Spot ETF: The anticipation of a Bitcoin Spot ETF approval could significantly influence BCH's price, with strong expectations of a bull run among Bitcoin Cash investors.
Consolidation Phase: Despite recent gains in BTC, BCH has been consolidating, indicating a period of accumulation and potential shakeout of holders.
Current Trading Position: BCH is trading at $237.44, with a 1.47% intraday increase, forming a bullish candle.
Technical Indicators Outlook:
RSI Indicator: Shows a bullish spike, hinting at a comeback phase for bulls.
EMA Trends: Both 50D and 200D EMAs exhibit a positive trend, reinforcing the bullish sentiment.
Potential for a $250 Breakout: BCH is on the verge of breaking the $250 mark, which could lead to a significant price surge.
Bitcoin's Influence: As a derivative of Bitcoin, BCH's price is closely tied to Bitcoin's performance, especially with the ETF approval on the horizon.
Downside Risk: A breakdown below the 50-day EMA could see BCH prices drop back to around $200.
BCH [MAJOR-UPDATE]As long as price respects 220$, BCH should be able to retest 280$ easily, but only after price breaks above this level, we shall see price head towards 360$ and 450$ later on. On the other hand, if price breaks below 220-200$, there is a high probability that price will retest 150$ before any other major move.
BCHUSD Double fibonacciPrevious fibonacci hit 1.272 target at channel up resistance, and continue to perform another fibonacci pattern inside channel up pattern.
Right now BCHUSD at channel up support around 0.618.
Target bullish from this position at $280 (fibonacci 1.272) and maximum target at $293 (Fibonacci 1.618) or at channel up resistance.
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Your support at this analysis will also support BCHUSD to reach bullish target
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Will BCH Price Rise Above $255 To Reach $300?Failed Breakout: BCH price couldn't sustain above $255, leading to a slide.
Cup and Handle: A cup and handle pattern formation suggests a potential bullish reversal.
Dynamic Support: The 50-day EMA is acting as strong support, with prices above $225.
Market Recovery: As Bitcoin hits $35K, BCH looks to capitalize on market optimism.
Sideways Movement: Despite Uptober gains, BCH is moving laterally but with a bullish bias at the $225 level.
Ascending Triangle: The price action hints at an ascending triangle pattern, indicating a possible breakout.
Stochastic RSI: Shows a bullish turnaround, suggesting an upcoming challenge to the $255 resistance.
EMA Support: The 50-day and 200-day EMAs provide dynamic support, maintaining a positive trajectory.
Spot ETF Speculation: Anticipation of a Bitcoin Spot ETF could catalyze the BCH market.
Bullish Scenario: A breakout above $250 could propel BCH towards the $300 mark.
Bearish Scenario: A breakdown below the 50-day EMA could see prices falling to $200.
2023 Outlook: BCH price prediction remains optimistic for crossing $300 in 2023.
BCHUSD Nearing Breakout Of Ascending Triangle PatternBCHUSD / Bitcoin Cash about to breakout of this ascending triangle chart pattern. Higher lows are forming with multiple retests horizontal resistance line. This is bullish and expect a move higher as soon as it closes above the horizontal resistance line around $250.00
Bitcoin Cash (BCH) will move 40% if BTC movesBitcoin Cash has been silent for a while. We all now what that means, when it wakes up - it gonna make some noice. Be prepared for a fast move!
If BCH reclaim the fib 0.382, and close above - It will take out a lot of candles to the left.
My idea is to enter at 247 and take profit at 344, (40% potential profit)!
You could use the up trending trendline as stop loss or adjust it to fit your risk tolerance.
BCH Bitcoin Cash, this is Satoshi'sMy entry here isn't the best but the BCH/BTC chart looks clean. Lightning network developers are jumping ship from bitcoin core, it has no utility.
Possible Bitcoin Cash ETF rumors. If we see Bitcoin go to 35-45k I think this will see around 450 at least.
In the long run if there is a spot Bitcoin Cash ETF this will probably go back up to 0.1 BTC
may stop out early if I feel Bitcoin is looking weak
📊#BCH completes the small double top structure goal, what next❓🧠Today we fell below the uptrend line, which means that we will most likely continue our short position. In the afternoon, we completely broke away from the resistance zone and adjusted a descending triangle model within a small time level (generally we fall according to this model ), so we laid out market traps based on certain signals and logic. In the end, we successfully hunted for a return rate of 220%+💥, which also meant that the goals of the small double top structure were all achieved. The market quickly rebounded after we reduced our holdings. We may then continue lower following a large double top structure.📉
⚠️Note that although we are moving lower, we are still bullish in the broader cycle. If the short defense points of the two double top structures above are broken, it means that the short structure is destroyed, and we will continue to move higher.📈
Let's see👀
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Bitcoin cashEyeing 333 pattern or a double zig zag in Elliottwave language.
This first drop towards (W) just doesnt seem to be enough for this thing to pump from right here.
Reason why i say that is because the current price action from (w) doesnt look like a motive wave. Its more overlapping and corrective. So , waiting for lower low on this one before i touch it.
Can Bitcoin Cash Make To $300 Before BTC Tops $40K?Bitcoin's Influence: The BCH price is influenced by Bitcoin's performance and the anticipation of a Bitcoin Spot ETF.
Current Status: BCH is trading at $243.48, experiencing an intraday fall of 1.56%.
Psychological Barrier: $250 remains a significant resistance level for BCH.
Technical Indicators - RSI: The RSI has hit the overbought boundary and is now reflecting downward, indicating reduced buying pressure.
Technical Indicators - EMA: Both the 50-day and 200-day EMAs are moving sideways, suggesting a stable trend.
Recent Performance: BCH saw a 22% jump to $269 but has since fallen back under $250.
Market Sentiment: The overall sentiment is cautiously optimistic, fueled by potential positive developments in the Bitcoin Spot ETF.
Potential Targets: If BCH breaks the $250 resistance, it could aim for the $300 mark.
Downside Risk: A fall below $215 or the 50-day EMA could lead to a drop to $200.
Inverted Head and Shoulder: BCH struggles to sustain this bullish pattern, indicating a need for a strong catalyst.
Market Recovery: BCH has benefited from the broader market recovery but needs to sustain the momentum.
2023 Outlook: The BCH price prediction suggests a potential bull run to $300 in 2023 if market conditions remain favorable.
📊BCH has a potential smiley face bearish structure, beware of📉➡️First of all, our general direction is bullish, but a potential smiley face bearish structure has formed in the resistance zone, and there is a certain contradiction.
🧠We don’t need to guess which way the market will go, we just need to wait for a clear signal: if we choose to continue to break through the short defense point, then the bulls will continue. If we break below the inflection point, then the smiley face bearish structure will hold and we will enter a phased correction.☕️
Let's see👀
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Bitcoin Cash BCHUSDT Price Analysis 8hBitcoin Cash BINANCE:BCHUSDT is on the cusp of a significant breakout, currently consolidating within a well-defined cup and handle pattern. A breach from this pattern signifies a potential upward surge towards robust resistance zones around $280 and $300. With current price at $230.
Pattern Analysis: Bitcoin Cash is consolidating within a cup and handle pattern, a classic bullish formation indicating a potential uptrend continuation.
Breakout Anticipation: A breakout above the pattern's upper boundary is expected to trigger a substantial upward movement, targeting resistance levels near $280 and $300.
Support Zones: Vital support zones lie at $218-220 and $200, acting as crucial levels to watch during price retracements.
Bullish Sign: Multiple bullish Falling Wedges within the cup and handle pattern highlight a positive market sentiment, suggesting a potential rise in BCH value.
Stay vigilant for the imminent breakout, as it could mark the beginning of a significant uptrend in Bitcoin Cash's price. We should closely monitor the support levels and consider entry points cautiously based on the pattern's confirmation.
Happy trading!
Bitcoin Cash Ready To Surpass $300Potential Turnaround: BCH price action hints at a possible breakout above the $250 mark.
50-day EMA: The price reverts from the 50-day EMA, indicating demand at lower levels.
Psychological Mark: A breakout at $250 could push BCH beyond the $300 mark.
Year-to-Date Growth: BCH has shown a remarkable 135% growth in 2023.
Uptober Season: Ongoing season and Blackrock ETF review could spark a new rally.
Support Zone: Recent pullback led to a sharp correction to the $180 support zone.
Bullish Pattern: An inverted head-and-shoulder pattern is forming with a neckline at $250.
Technical Indicators: MACD shows a positive crossover, and EMAs are in a bullish alignment.
Recent Growth: A 7.29% growth last night led to a bullish engulfing candle.
Optimistic Scenario: A breakout rally could reach as high as $329 by the end of October 2023.
Pessimistic Scenario: Failure to sustain above the 50-day EMA could lead to a drop to the $180 zone.
Market Sentiments: Overall market sentiments are improving, increasing the likelihood of a bullish breakout.
✴️ Bitcoin Cash | New AllTime High? New Update, New View, New...Here, let's have a closer look:
Bitcoin Cash is trading above all the moving averages.
EMA10/21/50/100/200/300 & MA200, the ones we track.
After breaking out of the falling wedge (red), we have a rising channel (blue).
The upper boundary of the channel will break by a strong move... A huge big candle, multiple candles...
Notice how volume is much higher after June 2023, that's the start of the bullish phase for BCHUSD.
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