The altseason coming? Nice bitcoin cash trade opportunity.BCHBTC chart here is showing a classic falling wedge pattern
Judging by historical support/resistance, the bottom is very clear here.
We can simply put our stop loss under 0.1 key support and a get a very nice trade with risk reward ratio greater than 8
***TRADE WITH YOUR OWN RESPONSIBILITY, THIS IS NOT AN ADVICE.***
Bchusdsignal
BCHUSD Now in lower low zoneBCHUSD Now in lower low zone. We hope market goes up form this level for next target zone in up side.
BCHUSD to test the funnel ~100 pips opportunityBitcoin Cash to test the upper trend line of the funnel. The green area should be the deciding point on whether it is going to breakthrough or continue in the same manner. I look forward to hearing your ideas too.
Bitcoin Cash bullish bias: 1 hour timeframe wave analysisThe 1 hour timeframe of Bitcoin Cash (BCHUSD) is labeled in this analysis with price swing from June 28, 2018 to July 18, 2018 identified as a regular flat (3 wave) Elliott wave structure. This is currently followed by further correction as labeled on the chart, which implies a higher price for Bitcoin Cash (BCHUSD).
Correction that originated from July 18, 2018 downwards is expected to find support within the region of the horizontal blue lines indicated on the chart (i.e. 749.30 and 700.0). These are the 100% and 138.2% retracement of wave a by wave c respectively.
The arrow indicated on the chart shows the trajectory for price if Bitcoin Cash finds support in the region mentioned above.
Target for the trade is placed between ~984.60 and 1009.70 at which point Bitcoin Cash is expected to encounter resistance.
Point of invalidation (POI) of this analysis is a price close below ~669.60 at which point the assumed wave c would have retraced 161.8% of wave a.
BCHUSD Ready for goes up from multiple support zoneBCHUSD Ready for goes up from multiple support zone.
Bitcoin Cash. Where we Go?And Long Levels
Bullisd Divergence 4H. Last wave of fall. Oversold. Channel creakout - trend will turn to bullish. My levels to buy
BCH's massive move, time to keep it on your radar!You can hate on Bitcoin Cash all you want, but Bitcoin Cash has outperformed all of the other cryptos by far. it took just 2 WEEKS for it to DOUBLE. 2 BLOODY WEEKS! What is really tricky about this is identifying a trading opportunity, which right now I don't see any. I do think it's a good time to take some profit. You could risk shorting it as the charts indicate we are in oversold territory by a couple factors:
1. RSI in oversold territory
2. Hitting a resistance zone.
BUT, a lot of people are just arbitrarily converting there BTC into BCH which has driven it up a TON and has kept MACD looking really good. Which is why I am not going to risk shorting it. I want to throw this out there to make sure people keep it on your radar as it made a lot of people a lot of money, and it's worth notating. We'll want to watch what happens if it pulls back and what it does at this $1,000 support zone/fib zone we have here.
Happy Trading,
-Sherem
