BCH channel: Dip, then 670? BCH/BCC has been a nice trade for the past few days. Looking for the next entry.
Bitcoincashusd
BCH: Symmetrical triangle can bust up any minute! According to the Elliot Wave Principle, every market rise in five waves and corrects in three.
After an amazing impulse from $190 to $972 in five waves, BCH corrected in a double combo WXY waves, labeled in blue.
It all formed a symmetrical triangle set to bust before the end of the month, five new impulsive waves are expected is this count is correct. An extension of 1.618 can take us up to over $1400! I'm not crazy and neither does Fibonacci. That could be our Wave III
BITCOIN CASH // HITBTC OpportunityHi Seildev here,
We're looking at 1 hour time frame a triple bottom with RSI divergence
upwards.
Historically the chart has not given a 3 point triple bottom.
If retraced back to 0.055313 then this is a great opportunity
for us to buy with:
- Target 1 profits at 0.067464
- Target 2 profits at 0.082000
As always, trade with a plan and safe trading.
Seildev
Bitcoin Cash: Rally or Crash?Is this a falling wedge reversal we see? Then we need a game plan!
The max consolidation level stopped the drop and we’ve seen a nice bounce. From here, we may see a breach of the falling wedge, a fibo extension target at $454, the pennant target at $466, and possibly even a daily target at $612. I can also see the rally kissing the major fibo resistance at $707.
Alternatively, we may resume the downtrend by breaking through the key fibo level at $359, the sub-key fibo at $341, and finally with bearish confirmation at $307. A fibo extension gives us a target on the hourly at $250 and a daily at $154 if we break the all-time low (I think this is unlikely at this time).
My method also includes analyzing the $BCHBTC pair. Here is the plan of action in that chart:
PLEASE NOTE: the long idea here is counter-cyclical until a breach of the bullish confirmation at $484.
As always, I will be updating this daily.
Cheers and GLWT!
Erik.
*If you like my ideas, please upvote :)
BCH found its bottom, time to push a little higher!An ABC correction with an extended C as i see it, BCH started with an impulse again, the long term support held the bleeding, let's see if it can reach again the resistance and form that fractal!
BCH trough an ABC correction bottom could be aroud $360Looks like BCH is correcting from an 5 impulsive waves waving from $300 to $540, C could find the bottom around $360.
BCHUSD Chart showing entry and exit areas. Of course all altcoin analysis is dependent upon the price action of Bitcoin, as the sentiment of these coins follows their leader.
BCHUSD 8h: Fibo 1.62 target = 1.300 USD. Maybe possible.If we look at the movements of the last weeks, we could extrapolate the trend lines on the basis of fibo under the condition that the top is around 900 USD (fibo 1). So there could be two possible trend ways up to the target 1.300 USD. it is very rough, but possible. Correction way 1 to around 575 USD. Correction way 2 to around 400 USD with a between high to 760 USD.
Let's see what happens. Happy trading. :-)
