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BCH Bull Pennant Breakout (20 Risk to Reward Long)BCH is currently near the end of a large bull pennant. If you take the previous upswing from last month and mirror it over to the current price, you can actually see a very interesting observation. Taking the fib extension tool, you can see how the mirrored move up matches up with significant fib levels. The move up ends at the 1.618 extension of wave 1 (or A), which coindentially happens to be a double top from before the crash. Finally, this completes the price gap from Nov 20. By longing at current prices with a stop below 0.0375, you have a 20 R:R trade. Alternatively, you can long the retest of the downtrend line for lower risk.
Long
by Valsyth
1
BCHABC - Rounding out its right shoulder, IHS in playBCH is continuing to look strong after that massive pump several weeks ago. I posted on a possible inverse head and shoulders pattern coming into play and that is exactly the scenario we have here. BCH has formed a right shoulder which is starting to look more bullish. The MACD is also beginning to curve upward. As long as Bitcoin remains bullish, I think you can expect BCH to test the neckline and more over the next couple weeks.
B
by jpbrown1023
ABC might have finished consolidationABC scam coin from scammer Roger Ver might have finished its consolidation period and ready to lift up as long as the King clean out the way. Now the price channel became as narrow as possible and I expect the next breakout to determine frther movemnet direction. Going below 420-422 will bring it down to 400. Going above 428-430 will mark some new targets on the map such as 460 - 490 - 520. Up to 22% profit from where it is now. Time will tell. Oh yeah, this is Bitcoin Cash sca coin, not ABC scam coin anymore. Whatever...
BLong
by WiseAnalyze
BCH Continuation of UptrendThings to note -> Forming a bull flag on the daily timeframe which is a uptrend continuation pattern. -> Has retraced more than 50% already. I would like to see it retrace to 61.8% before continuing with the uptrend. -> Forming a falling wedge on smaller timeframes. -> Has tested HTL on daily timeframe once -> Decent volume -> RRR is pretty good considering the next target is a bit far How am I trading this? Keeping Low Leverage as this is a long term trade for me. I'm spacing out my entries with last one being at 350 followed by a tight SL of course. What are my indicators saying? FOMO 4hr and Daily are sell signals which indicates that we could be heading down temporarily. To play it safer by risking not having a LONG position if it runs here, you could enter around 390 or lower Targets 465 530 590 648
Long
by vjsharma89
1
BCH pickin up where it left offLike the wave out in the ocean, separately it fights commotion. And as it nears the solid shores, believing it will be no more, it crashes rock and then dispels and realizes all is well. For it is not a single wave and the rocks were not it's final grave. Blending back into the sea, sometimes five waves, sometimes three. Until it reaches levels charted by the whale the trend was started. For he's the one, the market maker, fake support and money taker. A wall to the waves and a tsunami to walls, get hold of his charts and see where price falls.
B
by yankecwby
Bitcoin ABC FallGreetings from Benice team! The market has continued to grow on all fronts today, including the coins which are far away from the TOP. Bitcoin Cash ABC especially stepped up to the plate! It has grown 43% during the day! It can momentarily drop to somewhere around 100. According to RSI, there is an oversold situation. SELL signal for the current assets. Restart purchasing at 100 and 98. Globally, the coin is worth accumulating a part of the funds in it. Follow our updates of the idea!
BITSTAMP:BCHUSDShort
by benice_trader
BCH - Bouncing off all-time low, ABC is ready to dust SVLooking at the daily chart for BCHABC, I see a lot of things I like. We have a bullish cross on the daily MACD as it rounds off key support. The two previous times BCH touched this support,the price took off to all-time highs. But take that with a grain of salt as it's important to remember those pumps occurred in a bull market and this is a bear market. The RSI, however, is very low at 21 and was as low as 16! And for the daily RSI no less. Now that Bitcoin is showing signs of reversal/recovery, the alts are also recovering. I think there's a lot of room up if this is a short-term bottom for BCH. My initial target is resistance at .06. If we get some serious volume maybe we touch higher. Either way, it will put some serious distance between ABC and SV as it should be.
by jpbrown1023
1