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BCHUSD likely to hit the key level resistance at $501In my previous post I depicted that After taking a powerful bullish divergence in Dec 2018 the price action made upto 608% big move after that the priceline of Bitcoin Cash was going through the price correction period since Jun 2019 Upto Dec 2019 and the most lowest point has hit the 0.786 Fibonacci projection from lowest to highest point, and in the meanwhile the price action had formed a pennant and we were waiting for the bullish divergence which could lead the price action of BCH to breakout the pennant’s resistance. www.tradingview.com Now finally we can see that the Bitcoin cash has broken out the resistance of the pennant. So far it this bullish move has produced more than 43% profit but the game is not over coz the indicators and oscillators are still turning bullish. In previous article we were waiting for exponential moving 10 to form a bull cross with EMA 20 on day chart but now the bull cross is reflected upto 3 day chart and both moving averages has crossed down the priceline and lifting the price action up. Previously the ichimoku cloud was turned bullish upto 4hr short term chart but now it has turned bullish upto day chart and lagging span has crossed up candles and cloud both and candle sticks has crossed up the cloud with strong bullish rally which is a very strong bullish sign for the future as well. And before we had bull cross from stochastic on day chart and MACD was turned strong bullish now we have stochastic bull cross upto week chart and moving average convergence divergence is turned weak bearish from strong bearish and turning bullish upto week chart. On 2 day chart the price action had formed bullish Shark as below: And now after taking the powerful bullish divergence the price action has hit the Fibonacci projection area of C to D leg and entered in sell zone of mid term trading setup a to watch it you can play the above idea. Now we have a resistance at $304.48 once the price action will able to cross up the 0.786 Fibonacci projection of C to D leg the definitely the price action will hit at this resistance and if the pricline will be able to breakout this resistance the it will move to hit the next resistance level at $355.43 and this move can be rapid after this resistance we have key level resistance of Bitcoin Cash which is at $501which is not broken since Nov 2018 once it will be broken then a new bull rally will be started. Moreover the Gartley pattern on week chart is also on the play to give more bullish power to price action as we are in the potential reversal zone of this big bullish Gartley pattern. Soon I will post more updates with the further developments in the price action of BCH. Moreover I have shared tradingview link below where you can find my all trading ideas on different assets and I have also shared Binance exchanges link with some other useful links coz Binance has largest volume of every cryptocurrency with minimum trading constraints. Regards, Atif Akbar (moon333)
COINBASE:BCHUSDLong
by moon333
1
BCHBTC LONGTake a look guys, falling wedge since its creation. 2 years and a half of going lower against BTC. But that's about to change now. BCH has huge potential, many believe it's just a scam coin or similar. That's not the case, the development behind BCH is huge, only ETH has more developers. Big innovations are expected for this one, especially the avalanche protocol. Also an another fundamental reason is the halving happening in 114 days by now. In my opinion considering the previous halving events for BTC and LTC, this could propel the price much higher, something which should happen with a local top around the end of march or early April. Right now we are almost at historical minimums against BTC. Bear in my mind BCH halving comes before BTC, therefore whales will try to maximise their profits by first riding the hype of BCH then the hype of BTC. From a technical point of view you can notice that BCH is knocking on the upper line of the channel, that means it's drying the sellers and trying to propel higher. Given that BCH has a history of big explosions towards the upside, IF it breaks accordingly we are gonna see huge volatility. BCH/USD is at 5% from it's ATH against USD, the months before the HALVING, LTC reached a 30% value from it's ATH, if this was the case for BCH (it doesn't have to be, because past events don't correlate with future) we could see it around 1200$ before the halving. It sounds crazy but it could be the case. Do your own research, don't read just one analysis. I am not a financial advisor, this is for educational purpose only.
Education
by darkpiggie
BCHUSD formed Gartley | Upto 133% expectedPriceline of Bitcoin Cash / Bitcoin cryptocurrency has formed a bullish Gartley pattern and entered in potential reversal zone. This PRZ area should be used as stop loss in case of complete candle stick closes below this zone. Price action is getting bounced from bollinger bands support. Volume profile is showing less interest of traders at PRZ level but MACD is strong bearish and Stochastic is oversold and in bear cross so for secure trade we can wait for MACD to turn weak bearish or for stochastic to give bull cross then buy from the potential reversal zone. I have used Fibonacci sequence to set the targets: Buy between: 261.41 to 192.04 Sell between: 317.16 to 448.29 Regards, Atif Akbar (moon333)
COINBASE:BCHUSDLong
by moon333
FREE ANALYSIS ON BCHUSD - >>FREE ANALYSIS ON BCHUSD Welcome to SiriusTrading (managed by Segunby), Check out my Free analysis on Forex and Crypto. Follow me for regular Analysis and don't forget to LIKE, LIKE, LIIIKKKEEE :) - 15 Min we can see a small bearish momentum forming. Currently MACD is showing bearish divergence and same on the Stoch RSI. 1 HOUR Price broken out of the 3 MA's on the chart. Buyer interests also increasing with STOCH RSi turning up. My MA 100 and MA 200 also about to cross over so we might see some bearish move before we see the move up continue. Also a triangle is forming indicating a breakout soon. 4 HOUR Bearish. Price below the MA's and in fact tested the MA 100 and was rejected. All MA's have converged, we should see start of another break out. 1 Day Bullish. We are see a correction of the previous bull move up. Price tested the 100 MA. Hidden divergence found on MACD and Stoch RSI. expecting move move up. OVERALL bullish Outlook for BCHUSD - Thanks for reading See previous analysis Please share your thoughts and views on my analysis and don't forget to like it and share with others. #forextrading #forextrader #forexlearning #forex #stocktrading #investor #wallstreet #motivation #investment #bitcoin #investing #cryptocurrency #stocks #passiveincome #daytrading #stockmarket #crypto #forexprofit #pips #currency #financialfreedom #workfromhome #success #money #entrepreneur #stay #achieve #wealth #luxury
KRAKEN:BCHUSDLong
by SiriusTrading
The BCHABC Project 2019, Phase 01, Edition 02My Hypothesis, just sharing ideas. Method used: > Fib. Circles to determine major lines for support and resistance especially when the chart history is not available like BTC. >With the Full chart, it helped determine the Major channel from April to May. > Fib pitchfork to help identify the trend boundaries and if those boundaries are hit, it increases the likeliness of a trend change. On my chart, this is the light blue shaded areas. The white section within is the channel Observations: The pitchfork channel with light blue shading indicates BCH is operating at the high end of channel, which lets us know if it gravitates higher, then the force is to for a correction\pullback, etc We have not gone beyond this channel, above the blue shaded strip, indicating between 100% to 200%. acceptable levels. On the 4 HRLY Chart: Next fib ring (black) is the next major resistance is 440-450 note: confirmation as to the resistance (red line) at 400 in this trend. Major supports (blue lines) and it seems the bottom of the fib. channel region is this, with the fib. ring confirming it. Refer to the Daily chart for EMAs (100 and 200) confirmation. Note: On the RSI\4 HRLY chart and on the main chart, in Red marked region overlapping the light blue section. If you noticed, the current boundaries for the RSI for strength on the upside (blue channel), if this is broken blow, the strength will learn towards a downward trend. If it hits the RED section on the RSI, it would most likely correlate to the bottom section of the channel which also as explained, is the trend reversal region. Conclusion: Still in a strong uptrend with resistance of 400, 420 and 440-450. 450 or 480 being the target with a potential reversal. I think this equates to BTC 8400 and 9000 range. DAILY Chart, with EMAs 4 HRLY chart
BLong
by ssari