BCH/USD 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this BCH/USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin cash (BCH) surged to a fresh multi-month high on Tuesday, despite sentiment in crypto markets turning bearish.
Following a low of $143.19 to start the week, BCH/USD moved to an intraday high of $152.71 in today’s session.
As a result of this surge, bitcoin cash moved to its highest point since July 31, which is the last time price was above $150.00.
Overall, BCH is up nearly 20% in the last seven days, with today’s gains following a breakout on the relative strength index (RSI).
Price strength moved beyond a ceiling at 68.00, and at the time of writing, is tracking at 69.88.
Despite the next visible ceiling being at 71.00, earlier gains have begun to ease, with bulls opting to secure profits.
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BCHBNB
BCHBNB - Nison: 20 SMA with RSI(5) - Change of PolarityBCHBNB - Nison: 20 SMA with RSI(5) - Change of Polarity
- BCH has overcome Pivots P and pulled back to P after hitting R1.
- P shows a potential Change of Polarity (old resistance becoming new support).
- The pullback candle closed as a Piercing Pattern, setting horizontal resistance at the low of the pattern (1.8).
- The reversal came on a pullback to SMA 20 (Bollinger Basis).
- Nison 20 SMA with RSI(5) strategy wants RSI to close above 50, pull back, and find support. That will be a long entry signal.
SL: 1.795
T1: 2.175
T2: 2.42
T3: 2.8
RR: ~ 2.17, 4.21, 7.37
Additional Strategy:
Nison: EMA Crossover
- Wait for 4H EMA 5/8 Golden Cross on candle close.
- Set a buy order 2-5 ticks above the next Daily close which has a lower high.
- Trail buy order down until the trade executes.
- Close the trade 7 candles later, including the candle which triggered your entry.