Bitcoin Cash (BCHUSD): Very Bearish Outlook
Top-down analysis on Bitcoin Cash.
Key leves & price action analysis.
Local bearish scenario explained.
Long-term buying opportunity discussed.
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BCHUSD
BCH Resets its Would-Be 5th Wave Rally with PullbackWith our crypto crash last week, Bitcoin Cash invalidated its PURPLE primary pattern with the break of 386.59. This means that our larger Wave 4 correction that started after the May 2021 peak had been continuing all this time with that purple subwave (i) actually being a fake-out rally!
Therefore, the GREEN pattern is now primary, and it has the entire 4th wave pullback identified as a double-zigzag (since the would-be C-wave is actually an ABC zigzag down, now labeled as 'Y'). It is not clear if the pullback is done yet, and we may see a slightly lower low to the 0.618 extension of our W-wave which would fall at about 324.07 on the chart. (FYI, there should have been a RED alt pattern on this chart as I had on all my other crypto charts... Point is now moot as GREEN has supplanted this.)
So what's the good news despite all this doom and gloom?! BCH has a clean slate on where it can go next. Without 1-2 setup present, we can't make a clear projection yet on where the top should go, so I've added the big green box as our rough target zone. This falls within the 0.382-0.618 extension range of our larger 3-4, a common Fibonacci proportion; this is 1139-2370.
However, as I'm interpreting the larger pattern starting from the Dec 2018 bottom as a diagonal, I'd expect the 5th wave to extend to somewhere between the 1.382 and 1.618 extensions of the larger 1-2. While the lower end of this range falls within the green box, the upper end falls at 3181! So yes, there's a puncher's chance we make it that high!
I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.
#bitcoincash #bitcoin #cryptocurrency #bitcoinmining #bitcoinnews
BCHUSD Fibonacci Retracement, Support!Bitcoin Cash has not yet followed the market, it is still very cheap when compared to its crypto peers
0.382 can be seen as a strong resistance turned support, this is a great entry point.
Its peak of $4000 in 2018 is still so far away
With real world applications, BCHUSD hodls promise
BCHUSDT-SHORTThere is a short position in BCHUSDT Bitcoin Cash
BCHUSDT Bitcoin Cash
🔴Short Now or set on Key Level 491.5
🟢Target 1 444.0
🟢Target 2 406.0
❌Stop loss 505.0
#K_Level
Bitcoin cash - UPA graphically strong picture indicating the rise of the coin. Spike - a figure of a trend reversal and finding the price at the support level
BCHUSD As you can see on the chart, they have one C Fork and the RSI close to be higher than 50.
We will wait the RSI breakout the 50 level, maybe a pullback to the support are still possible.
Be patient.
I'll update the chart
Bitcoin Cash (BCH) - December 2Hello?
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(BCHUSDT 1W Chart)
Support section: 439.5-479.4
If the price holds above the 623.8-702.5 range, we expect the uptrend to continue.
If it declines from the 342.2 point, I think BCH is likely to enter the mid- to long-term investment zone.
BCHUSDT-LONGThere is a long position in BCHUSDT Bitcoin Cash
BCHUSDT Bitcoin Cash
🔵Long Now or set on Key Level 567.5
🟢Target 1 602.5
🟢Target 2 624.5
❌Stop loss 556.0
#K_Level
Bitcoin Cash has Bullish Setup within Longer-Term Diagonal RallyBitcoin Cash (BCHUSD) appears not only complete with its wave (ii) pullback, but we may already have another nested i-ii setup in place. That means we are in a great BUY position unlike with many other cryptos which have started to run away with stronger rallies. As the rally continues across the crypto sector, it will become increasingly risky to deploy large cash amounts, so DCA (dollar-cost-averaging) will be your friend!
In the long-term big picture, I have reworked and simplified the chart. I am interpreting the rally from the March 2020 bottom to the May 2021 top as an Elliott Wave Diagonal structure. Diagonals are characterized by deep retracements with their 4th waves often pulling back so deep that they overlap the preceding 1st wave's peak. They also tend to stay within a trend channel and contain subwaves which don't look like true 5-wave impulses but rather 3-wave ABC patterns. Our crash from the May 2021 top would be too deep to be the 4th wave of an impulsive rally structure but fits the requirements of a diagonal rally structure almost perfectly!
If we can hold immediate support at 533, we've got our subwave (iii) targeting between 1334 and 1592 for a more than 2x return from where we are right now. The subsequent 4th wave consolidation may last multiple months as 4th waves tend to be slow and sideways. The final subwave (v) top is targeting between 1776 and 2120 for a 3x return. However, there is a strong confluence at the 0.618 extension of the larger 3-4 pattern, which falls at 2562 (4.5x return!) There is also an outside shot that we make it to the 0.764 Fibonacci extension around 4000 (close to the ATH) for a 7x return, but this is a low-probability at this time.
This top will likely coincide with a MAJOR top in BTC and ETH and will likely be followed by a lengthy crash across the crypto sector. I expect the pullback to be a major Wave 2,. I addition, diagonal rallies usually proceed sharp reversals; that alone should be enough deterrence from trying to 'hodl' thru a long bear market. Thus, this would be a great opportunity to take profits and reallocate into other assets or even Stablecoins. However, the ensuing major crash could give us an even better buying opportunity to send us up to the 4400-4500 range! Farther out, provided that the larger pattern holds 6800 could be within reach with the 11k target looming overhead, which happens to have very strong Fibonacci confluence across timelines.
I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.
#bitcoincash #bitcoin #cryptocurrency #bitcoinmining #bitcoinnews
ETHUSD: defining momentAnd so, the ETH cryptocurrency has a chance of growth. The starting point for growth may be the level of 3964.40. The target of growth is the level of 4334.10. It will be possible to forget about any longs-positions only if the price breaks the level of 3964.40, thereby establishing a downtrend for this instrument.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
#BCH #USDT Buy SetupCOIN: $BCH/USDT (3-5x)
Direction: LONG📈
➖➖➖➖➖➖➖
One of our monthly top performers once again ready to explode. Looking on higher time frames like BCH is getting ready to confirm that $540 low was our mid term bottom.
ENTRY: 546 - 565
OTE: 541
TARGETS
Short Term: 573 - 583 - 595 - 610 - 630
Mid Term: 650 - 680 - 720 - 760 - 800
STOP LOSS: 521.3
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Loading #BitcoinCash #BCH It's a blood bath where everything is for sale. BCH didn't make a new ATH yet this cycle.
Let's go fundamental first:
1) BCH has smart contract developed by an independent team
2) It is disliked due to its founder and being BTC fork, yet it continues to thrive behind the scenes among its loyalists.
As for the technical aspect:
1) BCH has very high growing LONGS on BitFinex since the summer, and still so after this week's dip.
2) BCH continues to hover above its support drawn from Sep 2020 on the weekly chart.
3) BCH maintains the 40 RSI level on the daily, which is considered an untimely Long position entry in a bull run.
4) BCH is below the 0.236 Fib R level indicating an undervalued asset for accumulation
5) As per Ichimoku Cloud , BCH needs to close a daily candle above $640 for a leveraged long position. If and only if, my mid term target is $2400.
BTCUSD: continuation of the fallAnd so, the situation for Bitcoin is developing as it was previously assumed. The price tends to the level of $ 50,000. The starting point for the targets below is the level of $ 55737.10. At the moment, it is expected to break through the level of $ 53348.50.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
P2P Electronic Cash! BCH will melt faces.. longest chain than Bitcoin. 32X faster than Bitcoin less fees because of higher block size (32mb).. there is no block size limit on the white paper..
The True form of Bitcoin is peer to peer electronic cash!
DOTUSD❗ Focus on 33.6406 ⚡For the DOTUSD coin, a further fall is expected within the downward channel. The level of 33.6406 is the target of the fall, and a breakthrough of this level is also expected.
Have a nice trade!
Your Solldy.
XRPUSD💲 Longs aside ❗The coin has a pronounced bearish trend. It is not recommended to buy now. As one of the promising entry points, it is located near the resistance line of the downtrend channel.
Have a nice trade!
IOTAUSD❗ Down from resistance 📉IOTAUSD is tending downward from its resistance zone. One more approach of the price to the resistance is not excluded before the coin continues to fall. In this case, a head and shoulders pattern may form, which will support sales for this cryptocurrency.
Have a nice trade!
Your Solldy.
BTCUSD❗ Small growth 📈Further decline is expected regarding the BTCUSD coin. Most likely, this movement will continue next week. The remaining days of this week may pass in a small upward movement, which will be capped by the resistance at $ 60,000.
Have a nice trade!
Your Solldy.
☑️BNBUSD: best setup to BUY➡️ While Bitcoin and Ethereum are thinking whether they will grow or not, this coin (BNBUSD) has formed the most convincing buying base. It can be assumed that there is a likelihood of a resumption of growth in the cryptocurrency as a whole. But this is too early to say. In any case, this idea is not even a mid-term one. So if this is not even a resumption of growth, then the purchase with a high degree of probability will reach the target.
In addition, the support line of the uptrend channel is located just in the area where the approximate Entry Point is marked. Which again supports this local BUY-position. The growth target will be the resistance level of 661.0$ . The rest of the parameters of the deal are in front of you.
🔔 Proposed deal for this tool 🔔:
🔵Entry Point - 603.8
⛔️Stop Loss - 576.4
✅Take Profit - 658.6
Thanks for your comments and likes 👍
👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
DOGEUSD❗Rolling down further📉Selling this coin works well, an idea that came up earlier this week. The coin is expected to roll further. Sellers will try to fix the price below 0.21313350.
Have a nice trade!
Your Solldy.
BCHBITCOIN CASH is in the good area. i think it complete the wave 2 and wants to start wave 3. there is low risk to good profit
XRPUSD💲 Sellers are already tuned in ❗XRPUSD is also considered a short. The target of the fall is the level of 0.98017. At the same time, sellers need to overcome the insignificant support level of 1.01877.
Have a nice trade!
Your Solldy.
