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BCHBTC

BCHBTC Has Formed Bullish Shark | Upto 20% Bullish MoveBitcoin cash is the world largest digital asset ranked at 4th position as per coinmarketcap data. This digital asset is one of my favorite crytpocurrencies that gives us trading opportunities on daily basis. From December 28th to 18th February 2020 this cryptocurrency this cryptocurrency was being traded above the exponential moving average 21 but at this time this coin is being traded below the EMA 21 but likely to cross up this exponential moving average soon we have a second green candlestick with heiken Ashi setup having spikes beyond 21 exponential moving average. The Formation Of Shark: This time on 12 hour chart the Bitcoin cash with Bitcoin pair has formed a bullish shark pattern and entered in the potential reversal zone of this pattern. Let's dig this pattern deeper to examine how perfect this bullish Shark harmonic pattern is formed. The initial leg was started on 31st of January and completed on 7th of February 2020 then the price action has been retraced between 0.382 to 0.618 Fibonacci levels and that is as required for a perfect bullish Shark pattern’s A to B leg and after the completion of A to B leg the priceline is projected between 1.13 up to 1.618 Fibonacci projection of A to B leg and completed the B to C leg of this bullish Shark pattern. Then finally the C to D leg is retraced between 0.886 to 1.13 Fibonacci level and at this time the price action is floating in the potential reversal zone of this bullish pattern and ready to move up at any time. The Targets: The buying and sell targets according to harmonic BAT pattern should be: Buy between: 0.040225 to 0.038417 sats Sell between: 0.042242 to 0.046270 sats Stop Loss: The potential reversal zone of this pattern can be used as stop loss in case of complete price action closes below this level. This is short term trading idea not a long term idea; I will be keep posting more trading ideas as soon as I will find more.
Long
by moon333
Bitcoin Cash Goes Up By a Little Then Down By a LotMy outlook for BCH/BTC is bullish in the short-term but bearish in the medium-term. I am looking at a possible bounce at this support area, which could serve to validate the ascending support line as resistance, after which I think the price will decrease to the second support area at ₿0.0325. My main reason for this belief is the RSI and the previous breakdown: The RSI was above 50 for the entire ascending support line, and dropped below right at the time of the breakdown, suggesting that the upward move has ended. So, the proposed bounce would also likely cause the RSI to validate the 50-line as resistance and go down afterwards. The ₿0.0325 are should offer very strong support, since it is the previous breakout level and also supported by the 200-day MA. Ideally, I would look to short near ₿0.0425, with the aim of re-entering lower near ₿0.0325, in anticipation of the continuation of the move.
by BitcoinMaximus1
BCH/BTC TA UpdateBCH/BTC BCH broke upward trend-line support but immediately bought up at a key support area between 0.382-0.5 Fib. This area of support also coincides with the 50D MA plus the previous swing Low at 0.0370 sats which resulted in the price reaction to pull back up by 10%. I'm expecting BCH to consolidate at these current levels for the next 24 - 48 hours before another move will happen. The overall priority remains bullish as we are scouting for weekly Higher Low to form.
by PolarHusk
1
Bitcoin Cash Early Retrace SignalsBitcoin Cash (BCHBTC) did great recently but it seems that momentum on the side of the bulls is being lost. Right now we can see volume going lower and a failed attempt at moving higher. A potential drop is now in place and MA200/EMA200 is likely to be tested as support. MA200 is sitting at 0.039586. Conditions for change As long as prices are trading above EMA10 we remain bullish... If prices start to move higher and break the last high on good strength and volume, then BCHBTC is likely to continue to grow, but watch out for fake breakouts, since the signals are pointing to a retrace. Thanks for reading. Namaste.
Short
by AlanSantana
4