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BCHUSDT trade ideas

One day analysis of BCHUSDTSo yesterday was totally wrong, instead of going back and forth, the price directly breakthrough to the upside after hitting 435 (before this position has supported price many times) . No more pullbacks. Now the chart shows double bottoms usually a trend reversal formation,(if look back a little bit, can be seen as three bottoms, the price formed three valleys, and forwarding one wasn't able to go below the prior one). then price broke the neckline and kept moving up. By calculating the distance between the bottom and neckline, the next swing high target is around 472. If pullback occurs to test the neckline, it would provide another entry point. Still need to break through the previous high first then it can be seen as the trend reversal and we are in long trades.
by Blitz_analysis
One day analysis of BCHUSDTwith 15 mins chart creating higher lows, the price is pushing up to the resistance level and narrowing the waving range. Seems the bulls have gathered enough power to conquer it. Would it still be so hard to stand above and crush back? below the short-term support 440. It might have the chance to try one more time. with a 1-hour chart, 3 bullish candles are forming and it is also critical to see whether the close price can be above 444. for now tend to think of any withdraw as a chance to buy it.
by Blitz_analysis
1
One day analysis of BCHUSDT We can spot there are three price push-ups starting with 17th Dec afternoon. The first two times can be seen as a temporary double bottom. In terms of each time's shaking fall, it's likely the whale is absorbing the chips. Now the support is still in the previous midpoints(430) meanwhile formed two hammers when it is hit. The next rise should be cross the midpoint of this new range (around 430-445), and better to stand above 445 when it finished the soar. 435 buy /445 sell / 430 stop
by Blitz_analysis
One day analysis of BCHUSDTThe two grey lines are the midpoints of the two ranges respectively. leading the new waving range to 430-453. The recent market has been trickled persistently lower, without the churning volatility. This also shows that the previous soaring has been taken back almost 80%. Though there does appear some supports at the midpoint, the volume is not good. It’s more of a symbolic rebound. 4 hours MACD indicates a death cross is forming as well as 1-hour MACD keeps its bearish trend. sell 436, buy 422, stop 443
by Blitz_analysis
1
One day analysis of BCHUSDTThere are three different range these days(three rectangle in the chart) . After the plunge BCH formed a consolidation then tried to breakthrough the upper resistance but failed, a few times. Now if we observe carefully we can spot there's a midpoint between the recently low and the resistance: roughly 419-440. and also by connecting the low points (uptrend line), market shows that if the price fallen down the midpoints: roughly 430, it will gain some support again thus would also make the waving range narrower. Eventually it had to choose a direction and for now we can wait and see whether this time BCH can break to the upside-- march to the next target (upper rectangle). Consider to the two MA's are givng a relatively positive signal, (And atr has reached the new low position.) It likely to cross above the resistance then enjoy another consolidation period. Buy 437 / Sell 447 / stop 432
by Blitz_analysis
One day analysis of BCHUSDTThere's a downtrend triangle that appeared after the dump, and now the price has breakthrough to the upside. Since the previous support now has become the resistance we believe the next target would be around 440. But more likely the bears wouldn't give this chance to the bulls so 436 is likely to be a potential sell point for a short-period position. We can also spot there's an uptrend band that has been holding the price have a high low since yesterday. The waving range will become narrower and narrower between the resistance of upside and this uptrend line. Thus we can see which direction the market chooses to go. Buy 423/ sell 436 / stop-loss 417
by Blitz_analysis
BCH at Bottom of Trading Range / Buy Low Sell High / DailyThe big picture of Bitcoin Cash is trading range phase. Best strategy in range markets is to buy low and sell high. Now we are near the bottom of daily trading range, and also bottom of bear broad channel ( 3nd pushed down ). So cheap price to buy currently. As long as we are above the daily bull trendline + Support Zone ( $405-$445 ), you can buy. Below this prices market will be bearish. Targets after breaking the bear dynamic trendline: 1) Touching the bear trendline ( Top of Channel ) 2) Resistance Zone ( $749-$773 ) Breaking this resistance and consolidate above this zone, then higher prices will be expected. **This is not an investment advice. Your capital might be at risk.** Give me your idea on comments... Good Luck...
Long
by AmirSoraya