Long

[BCHBTC] Bitcoin Cash Bull Next [133% – 433% PP]

Updated

Bitcoin Cash (BCHBTC) is the next in line. All the signals are there, only the catalyst is missing.

Bitcoin Cash is a solid project, is the first Bitcoin hardfork and it has a very bright future. This is a solid altcoin to hold long term and you can expect massive gains once the next bull run comes.

Let’s start by looking at the weekly chart, no indicators this time:

This is a weekly chart. Each candlestick is equivalent to 7 days.
The brown line at the bottom is where Bitcoin Cash found support recently (Sept. 18). This same brown line is the price level that held BCHBTC price back in August, October and December 2017. This is a strong support for BCH and after it was touched a strong bounced happened.
We notice the wave up, wave down pattern and we can see the price declining from May all the way to Sept. We complete a negative nine count on the TD Sequential and follow up with a reversal candle and a new count. After a very long and strong wave down, comes a wave up.
It can take a while longer before BCH goes on a positive trend, this will be marked once we break and close above EMA10 (blue line) on the chart above.
On the shorter time frames, you can see a huge increase in volume and additional bullish signals such as MACD bullish divergence and bullish RSI.
We will position ourselves now for the upcoming wave.

Trade instructions for Bitcoin Cash by Alan Masters

Buy in: 0.0771 – 0.0813

Next support: 0.0753

Targets for BCHBTC by Alan Masters:

(1) 0.0911
(2) 0.1031
(3) 0.1161
(4) 0.1311

(*) 0.4271 (All time high)

Stop loss:

(1) Close daily candle below 0.0716.
(2) Close weekly candle below 0.0656 (this is a stronger stop loss for longer term traders).

Capital allocation: <20%.

Note: Big market cap. coins and solid projects allow for big capital allocation. If your strategy is for long term, low risk, you can trade coins such as LTC, ETH, BCH, ADA, easily and without much risk. If you have a small capital and want to increase your total Bitcoin holdings, then smaller cap. coins, with higher potential yet higher risk, can be traded.

You can also have a diversified selection of altcoins where you have small and big projects. Short, mid and long term as well as low and high risk… It all depends on your own financial situation, trading strategy and lifestyle. Choose what works best for you, what suits your own needs… And of course, feel free to contact me if you have any questions.

Namaste.

Trade active

Feel free to jump into this trade anytime you prefer.

Please allow time for it to develop.

Note

Good volume bounce, Bitcoin Cash will challenge EMA50 (magenta) next. It will go more sideways, consolidate and then move to EMA100 (blue)... It will take time, but it is looking good (as long as support holds - we keep on producing higher lows):

Note

We are now above buy in range and in good profits. If you check my update two days ago, you can see that we are moving up as expected.

More bullish action to come.

Note

Targets for BCHBTC by Alan Masters:

(1) 0.0911 - Target hit 4-Nov. (+19%)

Note

We are looking for a retrace now. Look at the long wick after we hit our target. We got this one very accurate:

Note

We have a strong close on the daily time frame. BCHBTC is now safely above EMA100 and broke through several resistance.

Here is the daily chart:

The weekly close is really good, we can expect additional bullish action long term, after retrace and consolidation is completed.

Note

We hit our first target for BCH.

Lowest point hit 0.0654.
Peak hit 0.0949.

TOTAL PROFITS FROM BOTTOM TO TOP = 45% PROFITS. More will come.

Let's take a look at some of the profits generated.

Targets for BCHBTC by Alan Masters:

(1) 0.0911 - Target hit
(2) 0.1031 - Next target
(3) 0.1161
(4) 0.1311

AlanSantana

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