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BCHUSD trade ideas

BchUnfortuently we could manage to hold 546 as new support. That was my biggest area that would allow me to consider rippin to 700$ again. With our triple top here on smaller timeframes and loss of 546 it’s not looking like we will be headed there any time soon. Holding this 518-517$ could be of interest to me if we get a wick or consildation there. And as low as 507-512 as another area. Which still could be looked at as a bullish back test. For now as Btc corrects finding it’s bottom, bch will mostlikely be going sideways and down until Btc finds its grounds. I have no open positions anymore and was stopped out with the loss of 550s
COINBASE:BCHUSD
by Erictaylor
BCH ! Immensely Bullish ! Massive Gains are incoming BCH shows a perfect example of Wyckoff prime cycle . People are ignoring coins like BCH for underperforming for the most part but majority are forgetting that the market cycle is at its near end and coins like these are the ones which really shine during the last rally of every market cycle. BCH had started to show bullish intent from the beginning of 2021. According to Wyckoff Cycle ,BCH has done its accumulation and now it is making its way higher and higher which is quite evident from previous April-May rally . Using the rally prior to BTC capitulation in 2018, placing the 0.236 on it and using the bear market bottom,4.236 extension reaches to 10.6k . In 2017 bull run,BCH had a similar correction before its major leg up. In 2021 BCH is similar quite to its 2017 setup . In case BCH reaches out to its full fib extension using the top and bottom on 2017 market cycle,it could possibly extend to 18k but that is only possible if 10k is breached and even 10k looks very far from current levels. But it would better align itself with the 2018 bear market drop which was a whopping 98% and if prices fall from 4.236 to the 500usd reigon it would be a 97% drop. 500usd region could be a possible bottom in the next bear market based off the current structure that BCH is following #NFA
COINBASE:BCHUSDLong
by hodlerultrapromax
6
Bitcoin Cash (BCH) - July 31Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (BCHUSD 1W Chart) If the price holds above the 517.20 point, we expect the uptrend to continue. (1D chart) We need to hold the price above the 517.20 point to see if it can turn into an uptrend. We need to see if we can continue the uptrend by moving above the critical section of 624.90-702.98. If it falls in the 435.70-517.20 section, it is possible to enter the mid- to long-term investment area, so careful trading is required. -------------------------------------- (BCHBTC 1W chart) We will have to see if we can turn to an uptrend by moving up towards the critical interval of 0.024438-0.034064. (1D chart) We will have to see if we can find support by moving up towards the 0.014655-0.016063 zone. If the price holds above the 0.016063 point, we expect it to turn into an uptrend and move higher. Since the 0.014655 point is a section with a high probability of entering the mid- to long-term investment area, careful trading is required. ------------------------------------------ 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)
KRAKEN:BCHUSD
by readCrypto
1
BCH - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. BCH is sitting around strong support in green so we will be looking for buy setups. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? on H4: BCH is forming an inverse head and shoulders pattern but it is still an idea. so we are waiting for the right shoulder to form to consider it valid. (projection in purple) Trigger => Waiting for the right shoulder to form and then buy after a momentum candle close above the gray neckline. Meanwhile, until the buy is activated, BCH would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:BCHUSDLong
by TheSignalyst
24
BCH's Double Bottom will Lead to....Bitcoin Cash (BCH) was trading back near the $382 low but the price failed to break below and is now in the process of developing a double bottom pattern. If BCH’s moves continue to be supported above the $382 support level, this temporary bottom can provide more fuel to the bulls. Downward Sloping Trendline The bulls need to overcome the downward sloping trendline that connects a series of highs starting from May’s high of $810. A daily break and close above this trendline can cement the bullish trade signal. To the upside, the first level of interest comes at the $550 resistance level, followed by $760. A daily close above the big psychological number of $550 can open up the door for more upside. However, at the same time, we should not forget that the current bearish cycle in the cryptocurrency market is not over yet, and rallies tend to be short-lived. RSI Momentum Readings RSI oscillator continues to print negative momentum readings below the mid-level 50. The bearish momentum readings suggest that the current rally still lacks momentum, so bulls need to remain cautious. A break above the RSI mid-level 50 can confirm a shift in the momentum direction.
COINBASE:BCHUSDLong
by cryptohopper
A Wonderful Buy The Dip Opportunity of Bitcoin Cash (BCH)Down channel: On the daily time frame since the month of May 2021 the price action of Bitcoin cash is moving in down the channel. After hitting the support of this down channel on 22nd June the price line reached the resistance and for the past several days, the price action is still moving at the resistance of this down channel and not reaching the support again. Support and resistance and SMAs: On the weekly time frame it can be seen that after getting rejected by the strong resistance of $1,600 the price line of Bitcoin cash has moved down drastically. It can be also observed that priceline has finally found very strong support at $400 level and this is key level support for the price action of BCH. Because previously it has been working as a support and resistance as well. Now the next resistance is at $600, $750, $1000, $1600, $1800, $2200, $3000 and $4000 respectively. At the same time, the price action is also moving at the 50 simple moving average support and after that, we have the 100 simple moving average support on the same weekly time frame chart. Big shark: On the 4-day chart, the price action o BCH has formed a bullish Shark pattern. The priceline has already visited the oversold zone as it was dropped up to $468 and moved up. However, this time the priceline has completely entered the buying zone of bullish Shark and giving another chance to catch it from the buying zone of this pattern. There is also 100 simple moving average support in the potential reversal zone. The buy and sell targets as per the Fibonacci sequence of this bullish Shark are: Buy between: $530 to $340 Sell between: $789 to $1265.42 The maximum extent of the potential reversal zone at 1.13 Fib level can be used as stop-loss which is $340. As per the above targets, this trade has a profit possibility of 270%, and a high loss possibility of up to 36%. Conclusion: Even though recently the price action of Bitcoin cash faced strong downtrend on the short-term and the mid-term. But the way the price and is moving at the resistance and making several attempts to break out the resistance of the down channel and the formation of a very big bull Shark are signaling a massive break out soon.
COINBASE:BCHUSDLong
by moon333