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BCHBTC

Bitcoin Cash can retest $525Bitcoin Cash -1.66% bounced nicely after dipping into the demand zone around $430 and has made a higher low after bears tried to breach lower into support a few days ago. The EMAs had bounced but are looking to turn back lower again here if we cannot push higher. We just dipped into demand and are currently right on top of the zone and it buyers can step in here and propel us back above the EMAs, we can possibly get back up to the supply zone that was tapped on that spike up Monday. Stops can be placed right below this support area as a break below could result in a retest of the $430 block. As always, watch Bitcoin -0.57% for any signs of weakness or breakdown to exit the trade early. Thanks guys
B
by CM_Trades
2
[BCHBTC] Bitcoin Cash Bull Next [133% – 433% PP]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.
Long
by AlanSantana
9
Bitcoin Cash hype dying down! Bitcoin Cash has broken below the trendline and is now finding it as resistance sitting on important support. A breakdown from this level could see us revisit the $500 level quickly with the overall target set near $460 on a Bitcoin collapse back down to $6200. MACD continues to trend lower while RSI broke below support but is heading back up to restest the breakout, which could end up being the ideal spot where price could head back lower and RSI return to the bottom for the range. A possible short trade would be to wait for the demand zone to break then take a short position on a retest and fail to break back above the S/R flip zone. Stops would be set above the retest of the trendline SFP and targets are outlined on the chart. Thanks guys
BShort
by CM_Trades