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Bitcoin Cash Price Analysis: BCH/USD Clears The Path To $400 Bitcoin Cash reclaims support above $300 as buyers build the momentum to take down the $400 resistance. BCH/USD faces increasing selling pressure at $310 ahead of the next key hurdle at $320. Bitcoin Cash price hit a wall at $326 in the wake of rallying prices across the cryptocurrency market. A flash drop occurred culminating in a devastating drop to $245 on August 2. BCH/USD spent most of last week nurturing a bullish trend first towards $300 and later $400. For a period of time, the price remained pivotal at $300 with the upside limited at $320. On the downside, support had been established the 50% Fibonacci retracement level taken between the last swing high of $337.80 to a swing low of $235.01. The 50 Simple Moving Average (SMA) has also contributed a lot in keeping the price in check as well as keeping bulls focused on sustaining gains above $300. A break above the trendline resistance during the Asian hours have seen an engulfing candle printed above $300. Bitcoin Cash is trading at $308 at the time of writing. It is facing massive selling pressure at $310. If buyers pull above this zone, gains beyond $320 will become apparent. Technically, the bullish case to $400 is supported by several technical levels from the RSI and the MACD. The RSI has reversed the trend upwards and currently eyes 70. In other words, the influence by the bulls continues to grow steadily. Similarly, the MACD is likely to hold above the midline in the short term but if a bullish divergence comes into the picture, a spike to $400 will become even more apparent.  For now, establishing support above $300 should be among the bulls’ highest priorities as it would encourage more buyers to enter the market, completing their mission to $400. Bitcoin Cash Intraday Levels Spot rate: $308 Relative change: 7.21 Percentage change: 2.41% Trend: Bullish bias Volatility: High
COINBASE:BCHUSDLong
by CoinGape
2
$BCH LONG TRADE IDEA Sometimes when you're in doubt about a chart, you have to really zoom out to a bigger timeframe to understand where the bigger move is coming from. Moves within moves, timeframes within timeframes. Anyways, we can see the 2020 coronavirus crash the price went up to almost $515, which it hasn't came near to since the virus. But now on the daily, we're about to have a 'golden cross' soon sparking interest into the market , and I know a lot of people are watching this same chart. I'm very bullish because of that Anyways BCH closed over $305 monthly resistance and gained that as support, so the next target would be $361 respectively This is a daily chart so don't expect this to happen overnight Thank you all for your continued support, I really appreciate it .
KRAKEN:BCHUSDLong
by kyer
1
Bitcoin Cash: In-depth Breakout Analysis 1D (Jul. 26)X Force Global Analysis: Bitcoin cash (BCH) has been showing signs of reversals through a descending wedge on a downtrend. In this analysis, we take a look at Bitcoin Cash's technical evidence to assess its bullish probabilities. Analysis - To begin with, we can notice extremely extended bullish divergences on the daily, as prices form lower lows and indicators form higher lows - The Relative Strength Index (RSI) shows a steady increase over time, demonstrating increasing trend strength - The Moving Average Convergence Divergence (MACD) also forms higher lows and higher highs as a sign of momentum - The Stochastic indicator also contributes to the bullish divergence formation on the daily, adding weight to a bullish case - Counting Elliott Waves within the descending bullish wedge, we can count Elliott triangle waves (ABCDE) leading to a breakout - The Exponential Moving Average Ribbons are converging, looking to form a potential golden cross - We have managed to close above the 0.5 Fibonacci retracement resistance, providing confirmation of a breakout - Bitcoin cash has also managed to close above the Ichimoku cloud resistance for the first time in many weeks, signaling a potential long term trend reversal What We Believe We believe that the outlook on BCH is extremely bullish based on a plethora of technicals that point to the same direction. This could potentially be the beginning of a long term trend reversal. Trade Safe.
Long
by XForceGlobal
1
BCH/BTC 1D Jul. 25Suggested Entry: 25215 Target 1: 26650 Target 2: 27800 Target 3: 28840 Stop Loss: 24250 The reason why Bitcoin Cash (BCH or BCHABC) is bullish despite having a similar setup to XRP is for two main reasons: - Technical indicators support a stronger evidence for bullish momentum - While confirmation is yet to be provided, it could be argued that BCH has broken out of the descending wedge pattern As a descending wedge pattern in a downtrend is typically identified as a bullish reversal pattern, we suggest a long position with targets leading up to previous historical resistance levels, and a tight stop loss below significant support. Trade safe.
Long
by XForceGlobal
BCHUSD the pattern has been changedHi friends hope you are well and welcome to the new update on Bitcoin cash. Recently a very positive move can be observed on the daily chart that after touching the support at $215 the price action moved up and broke out at $225 resistance again. At this time the price action is retesting the $225 resistance level as support that is really very good gesture because whenever the price action re-tests the previous resistance as supprt after breaking out then there are chances that the price action can move up to the next resistance level rather breaking down the support again. The price action of BCH is struggling at 100 SMA resistance level: If we watch the simple moving averages with the time period of 25, 50, 100 and 200 then still the priceline is struggling at the 100 simple moving average resistance and having support of 50 SMA. If the price action will break out the 100 simple moving average then next resistance of 200 simple moving average is at $170. The pattern has been changed: The price action of Bitcoin cash is moving in a wedge pattern. If we place the balance of power indicator then it can be clearly observed that the power between the bulls and bears is distributed equally. Whenever the balance of power is moving down or moving up the price action is following the signals and hitting this support and resistance levels accordingly. When the balance of power 8th time gave bearish signal the priceline of BCH moved down at support but when balance of power indicator gave bullish signal the price action did not reach at the resistance. And when for the ninth time the balance of power moved down the price action broke down the support of wedge. Therefore now the pattern has been changed from wedge to parallel channel. A big harmonic move: Now I would like to recall a very big bullish gartley pattern that I have shared in my previous articles as well. This pattern has been formed by the protection of Bitcoin cash on the monthly chart. At this time the price action is moving in the potential reversal zone of this pattern. As per Fibonacci sequence the price action can enter the Fibonacci projection of A to D leg from 0.382 to 0.786 Fibonacci levels. And the price targets can be as below: Potential reversal or buying zone: $242.32 to $167.94 Fibonacci projection or sell zone: $300.84 to $441.41 Conclusion: Even though the price action has strong resistance of 100 moving average on the daily chart. But it has also the support of $225 support level and after hitting the support of the channel that has been formed on the daily chart the movement up to the resistance is still due. Therefore we can expect that the price action can move up to the resistance of the channel at least. However, on the monthly chart a big bullish Gartley pattern is showing that the Bitcoin cash will start a long-term bullish rally soon.
COINBASE:BCHUSDLong
by moon333
1
$BCH LONG TRADE IDEA Bitcoin Cash Market Breakdown - July 10th, 2020 Bitcoin Cash hit both of our entry points, and even though the market looks choppy and unsure.. my thoughts are why try and scalp this long play real quick. We understand now that the levels touched are respected and we know where the price is going to float to Entry should've been along $222, even better would've been $213 Anyways, price rejected tough off of our $246 monthly level I believe that if the general stock market continues to rise up in value, that the rest of the crypto market and commodity market will also soar. BCH is currently holding $236 support, but if doesn't have momentum / volatility will come back down and retouch around $228-$230 where the uptrend is. 1st TP again would be an easy $246 2nd TP $252.6 3rd TP $267.6
KRAKEN:BCHUSDLong
by kyer
BCHUSD Has Formed Very Big Bullish Gartley Setup For Big MoveHi friends hope you are well and welcome to the new update on Bitcoin cash. In my previous post I explained why the Bitcoin cash can move down to hit the support of the wedge. At this time the price action is at the support of the wedge pattern now we will try to understand what the price action can do next. The movement within a wedge: Price action of Bitcoin cash is moving within a wedge on daily chart since March 2020. At this time the price action is moved down up to the support. If we watch the balance of power indicator then it can be clearly seen that the balance of power is distributed equally between the bears and bulls. I have also placed the moon phases indicator on this wedge pattern. And we can observe that the new dark moon is appeared above the support of the wedge that is very positive signal. Now it will be difficult for the price action to cross down this level of dark moon. If we watch the volume profile that I have placed on the complete priceline of BCH moving within this pattern then it can be easily observed that the trader’s interest is very low below $225 and from the upside it is very low above $255. So it is showing that the priceline is moving at the level where the trader’s interest is very weak therefore the price action can move up to the resistance from here. Formation of bullish reversal pattern: In previous post we have already seen that the price action of the BCH is forming the different harmonic BAT patterns with the consistency and continuity on the daily chart. First it formed a bearish BAT then it formed a bullish BAT then again price action formed a bearish BAT move as below: now again the price action has formed another bullish BAT pattern. And at this time it is gearing up from the potential reversal zone of this new bullish BAT. This is BAT is a clear sign of a bullish reversal of the price action of BCH. Now we can expect that the priceline will be moved up to the resistance of the wedge pattern to make another attempt for the breakout. At the support: After the drop of March 2020 the price action bounced from the last support of $170 and broke out the next resistance level of $225. The next resistance level would be at $304. At this time the price action is moving at the support of $225 but as all signals are moving in the favor of bulls therefore this time we can expect that the price action will move up to next resistance level to make an attempt for breakout. A very big bullish Gartley formation: Now I would like to take you to the monthly chart where the price action has formed a very big bullish Gartley pattern. At this time the price action is moving in the potential reversal zone of this big bullish Gartley. Now as per Fibonacci sequence the potential reversal zone or buying zone and Fibonacci projection area or sell zone are as below: Potential reversal or buying zone: $242.32 to $167.94 Fibonacci projection or sell zone: $300.84 to $441.41 After watching these targets we can expect up to 160% bullish rallyby this big bullish Gartley pattern. But if the price action will be able to cross up 0.786 Fibonacci projection of A to D leg then the Bitcoin cash can start a very big parabolic bullish move that can lead the priceline to achieve higher than the previous highest price ever in the history of Bitcoin cash. Conclusion: From small time period to long term time period charts all patterns and indicators are turning bullish. Therefore we can expect a bullish reversal move from here at least up to the resistance of the wedge pattern. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
$BCH ENTRY PRICE IDEABitcoin Cash Market Breakdown - June 20th Re-entry price set at $222 support Why? Starting March 24th, this is the start of the uptrend. The price action on BCH touched $267, couldn't break through, and is in the process of bleeding out right now to the start of the uptrend. $222 Let the price continue bleeding out and then make your entry, patience pays in markets like this Impulsiveness will only make you lose money in the end. _________________________________________________________________________________________________________________________________________ Disclaimer The content provided is in no way shape or form financial advice and is subject to change at anytime without notice. As always please do your own research, I am not a financial advisor. Thank you for your continued support!
KRAKEN:BCHUSD
by kyer
3
BCHUSD | A Downward Correction Rally Before Bullish MoveHi friends hope you are doing good and welcome to the new update of Bitcoin cash. After the strong best trend that was started from Feb to March 2020. The price action of the BCH completed the final bearish leg of bullish Shark pattern on the 4 day chart. And on 19th March I posted an idea on this move of Bitcoin cash. I predicted as per Fibonacci sequence of this bullish Shark the price action should move up and enter in the Fibonacci projection area of C to D leg from 0.382 to 0.786 Fib projection. And finally after mid of March the price action moved up and as per prediction it entered in this Fibonacci projection area. And so far it has produced more than 56% bullish rally. Wedge formation and moon phases are giving bearish signals: Now on the daily chart the price action of Bitcoin cash is moving in a wedge since March 2020. The Bitcoin cash has several touches at the support and the price action has also made several attempts for the breakout. But so far the BCH is not able to break out the resistance of this wedge. Here I have placed the moon phases indicator. On upside you can watch the full moon and on the downside the dark moon can be seen. The distance between one full moon to another full moon and from one dark moon to other dark moon is called synodic cycle that is 29.5 days long. Now after the completion of the recent synodic cycle we can see that the new full moon was appeared down than the previous full moon. And the new full moon is inside the wedge below the resistance. And the recent dark moon was appeared below the support and it down than the previous dark moon. So here the moon phases indicator is giving the bearish signal and indicating that the price action might be moved down from here. Moreover I've also placed bollinger bands indicator and we can see that the upper bands of the bollinger bands is below the resistance of the wedge pattern and the price action is not able to cross up the resistance of bollinger bands and can start another downward move up to the suppor. here I have also implemented the volume profile indicator on the complete price action moving within this pattern that is showing that trader’s interest is strong up to the support that is around $225. Therefore a possible move up to the support is expected. However we take a look at volume indicator then even though there is not a big volume but buying volume is being appeared with the continuity and consistently, therefore the buying volume can cancel these bearish signals. Now if we take a look at the balance of power indicator then it can be clearly observed that the balance of power is equally distributed between the bears and bulls. On the chart there are 6 obvious downward moves and 6 openly upward moves by this indicator. And the price action is also following the moves of the balance of power. At this time this indicator has made its 6th upward move and the price action has reached at the resistance. Therefore we can expect the seventh downward move by this indicators. Consistent formation of BATs: Now let me show you the formation of different harmonic BATs with the continuity. On the daily chart the price action of BCH has completed the formation of third BAT pattern and it is forming these harmonic patterns consistently. Let’s dig these patterns out to watch the how perfectly they are formed: After initial leg the A to B leg is retraced between 0.382 to 0.50 Fibonacci. And B to C leg is projected between 0.382 to 0.886 Fib projection of A to B leg. And the final leg has been retraced between 0.786 to 0.886 Fibonacci retracement level. And all these BATs has followed the same Fib sequence. Therefore after the completion of third bearish BAT pattern we can expect a downward move from here. Simple moving averages and resistance of 200 SMA: Now if we watch the simple moving averages with the time period of 25, 50, 100 and 200 then the price action has crossed up all the moving averages. But only 200 SMA is left to crossed up and if we take a closer look on the chart then it can be easily observed that since April 2020 the price action has made several attempts to break out this simple moving average but so far it is unsuccessful. And at this time the priceline of BCH is struggling at this 200 SMA resistance level again. However this time the priceline of Bitcoin cash has the support of 100 simple moving average, therefore if price action will be dropped from here then it may re-test the 100 simple moving average as a support before any other move to the upside. Support and resistance levels: I the month of Feb 2020 the price action was very strong bullish and reached very close to the key level resistance of $500 but unfortunately after reaching at $497 a strong bearish trend was started that leaded the priceline to the first support at $147. After getting bounced from this support level the priceline of BCH broke out the next resistance of $220 and re-tested the previous resistances as support and moved up to breakout the next resistance at $260. So far it is moving between these support and resistance levels between $220 and $260 and now it has formed a parallel channel between these levels. Once the price action will breakout this resistance then it can go to the next resistance at $304 and after breaking out $304 the next resistance would be at $355 and in case of breaking out this hurdle the key level resistance would be at$ 500. If the priceline will breakout $500 then it can reach the highest right ever in the history of Bitcoin cash very soon. Ichimoku cloud and directional movement: On the long-term weekly chart the Bitcoin cash is never able to cross up the ichimoku cloud since this cloud is appeared in the history of BCH as per coinbase exchange. We have witnessed several attempts since may 2019 to break out this cloud but unfortunately so far the price action is moving below the cloud. This time the cloud is turned very weak and the lagging span of the ichimoku is crossing up the candlesticks. This is the first bullish signal that we have received now we can wait for the conversion line to cross up the baseline. And once it will be happened then the ichimoku cloud will be turn bullish and it will be easy for the priceline to breakout this cloud and breaking out this cloud will become a very strong support for the price line of Bitcoin cash to start a very long term bullish rally. If we take a look at directional movement indicator then positive directional indicator has crossed up the negative direction indicator. That is the bullish signal indicating that on the long-term the Bitcoin cash can started a bullish rally. Before this in April 2019 when the positive directional indicator crossed up the negative directional indicators then Bitcoin cash produced 330 % bullish rally. And after that in January 2020 when again +DI crossed up the –DI then the price action of Bitcoin cash started a bullish rally up to 138%. Now the wait is only for the ADX to move up to assign the power to the bulls. Big bullish Gartley a firm signal for long term bullish move soon: Now I would like to recall a very big bullish Gartley pattern that is formed on the monthly chart by the price action of Bitcoin cash. I also a posted this pattern in my previous post as well. After entering in the potential reversal zone now the price action is moving just above this PRZ level and it can start movement to the upside very soon. This bullish Gartley can be very helpful for the priceline to start a long term bullish move. Conclusion: On the daily chart the bearish signals are more than the bullish signals. Therefore we can expect a correction rally up to the support of the wedge that has been formed on the daily chart. But on the long-term chart the Bitcoin cash is turning very strong bullish specially after the completion of very big bullish Gartley pattern on the monthly chart. So the countdown for a very big upward move has begun. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
2
BCH/USD Great Buy Opportunity in Parallel Ascending ChannelWhen looking at a pair that has a positive bullish momentum, we get the risk of entering out of FOMO. Make sure that you don't enter when the price is really high and hasn't retraced yet. For instance, keep an eye on the RSI and don't buy when it's above ~70. Here in this parallel channel we can see that currently we have a nice opportunity for a buy, because the price is reaching the bottom support line of the channel. This is a great moment to enter Bitcoin Cash in this bullish market. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
COINBASE:BCHUSDLong
by Trading-Guru
10
BCHUSD formed bullish Shark | Upto 187% move expectedFailed in breaking out the key level resistance: The Bitcoin cash had started is very powerful bullish rally in December 2019 after breaking out the first resistance level at $304 the price action used this resistance as support and using this support the price action moved up to make an attempt to breakout the key level resistance of $501. After reaching at $497 the price action turned very strong bearish and broke down all previous supports and at this time the price action of Bitcoin cash is at $182 support. Head & Shoulder pattern and breaking down the SMAs supports: If we closely examine the 2 day chart then it can be clearly seen that the main reason for this drop was the formation of Head and Shoulder pattern. This pattern was started with the strong bullish rally of Bitcoin cash in Dec 2019. The left shoulder was completed on January 3rd 2020 and the head was completed on Feb 28. After hitting the key level resistance of $501 the price action formed the right shoulder from 28th February to 7th March 2020 and even broke down the neckline of the Head & Shoulder. While forming the right shoulder we had strong supports of 100 and 200 simple moving averages but the sell off was so much strong that the price action easily broke down these two supports as well. The priceline is using the support of resistance of previous pennant: Here I would like to take you back on 23rd December 2019 when I reveled in my post that the price action of Bitcoin cash was moving in a pennant. This movement in the pennant was started on 21st June 2019. And when I published that article the priceline was getting bounced from the support of that pennant and based on some more indications I predicted that this time the BCH will breakout the resistance of the pennant. And on January 2020 the price action broke out the resistance of the pennant. This trade Idea produced more than 154 % massive profit. Formation of new harmonic Shark pattern a bullish reversal signal: But now we can examine that priceline is retraced 100% and this time the price action of Bitcoin cash is also having the support of previous trend line that was the resistance of the pennant. If we observe on 4 day chart then it can be clearly seen that the priceline of Bitcoincash has formed bullish Shark on the support. The formation of this pattern was started in December 2019 when the Bitcoin cash started its rally. The first leg was completed on 17th January 2020 at that time the priceline of BCH retraced between 0.382 to 0.6 18 Fibonacci level. That was the 1st confirmation of bullish Shark. From here the Bitcoincash was the suppose to be projected between 1.13 to 1.618 Fibonacci level of A to B Fibonacci projection area for the completion of B to C leg of this shark pattern move. At C leg’s level we have some extra spike that I have ignored because all other legs are formed as required for the perfect bullish Shark pattern. After the completion of C leg on 14th February 2020 the priceline of BCH faced strong sell off and this bearish move helped the priceline in completion of final leg of shark pattern. And now we can see that the priceline of Bitcoin cash has retraced between 0.886 to 1.13 Fibonacci level and moving in the potential reversible zone of this pattern. From this potential reversal zone the price action of BCH is suppose to take the bullish divergence in the Fibonacci projection of between 0.382 to 0.786 Fibonacci projection of C to D leg. The ranges of potential reversal zone and Fibonacci projection are as below: Potential reversal zone is from: $ 196.83 to $ 139.48 The Fibonacci projection area is from: $ 266.47 to $ 401.14 Above range depicts that this pattern can produce upto 188% massive profit rally. Stop loss: The volume profile of complete price action of Shark pattern is showing the traders interest even in the PRZ level therefore we need to take care of stop loss strongly in this case we can use the maximum extent of potential reversal zone that is $ 139.48. Because if this potential reversal zone will be broken down then priceline can turn more bearish.
COINBASE:BCHUSDLong
by moon333
1
Will Bitcoin Cash Breakout $500 Key Level Resistance???A double top at resistance level: Hi friends hope you are well and welcome to the new update on bitcoin cash in today's technical analysis will will try to find out the different bearish and bullish signals and patterns. First of all I would like to take you to the daily chart where we have the different support and resistance levels and if we take a look back in the month of March 2020 then we can see that after the waterfall crash the priceline has hit at the support at $147. And from this support the priceline recovered and broke out the $200 resistance again. And after breaking out the 200 resistance level it has re-tested the previous resistance as support and moved up to break out the next resistance level at $260.But here we have some critical situation cause after a hard attempt for breakout in April 2020 the priceline dropped down again and moved up to re-attempt for the breakout from $260 resistance level. But again the price action is dropping down. So if this drop will be continued then we will have a double bottom formation that can produce more strong bearish rally to the downside. The priceline is being rejected by the SMAs: Now if we take a look at the different simple moving averages with the time petiod of 25, 50, 100 and 200 on the same daily chart then it can be easily observed that first priceline broke out the 25 and 50 simple moving averages but when the price action attempted to break out the 200 simple moving average then it is rejected by the 200 SMA. The 200 SMA is almost at the same level where we have the $260 priceline resistance. So the priceline is being rejected at the same time by the $260 priceline resistance level and the 200 simple moving average resistance level as wel. And the Bitcoin cash is forming a double top formation on the chart of the moving averages as wel. Now it can be easy for the price action of Bitcoin cash to break down the 25 and 50 simple moving average supports. Because the pressure from the upside is stronger than the pressure from the downside. As we have bigger moving averages above the price action and those are 100 in 200 SMAs and smaller moving averages below the priceline and those are 25 and 50 simple moving averages. Priceline could not reach the resistance of up channel: The BCH has also formed an up channel on the daily chart but this time the Bitcoin cash could not reach up to the resistance of this up channel. If the price action will break down the support of 25 and 50 simple moving averages then it can also break down the support of this channel as well . Because we have the 25 simple moving average at the same level where we have the support of this up channel and in case of breaking down the support of the channel the priceline can easily reach at the support of $200. The bullish harmonic move on long term chart: Now I would like to take you to the very long term monthly chart and here we have a very positive move by the price action of Bitcoin cash. And that is the priceline of BCH has formed a very big bullish gartley pattern same as like the Bitcoin has formed on the monthly chart. Even though the price action has spiked beyond the support of the potential reversal zone of this pattern. But within very next cande stick it has been retraced back in the potential reversal zone. Therefore we can ignore the extra spike. Here I would like to recall a bullish shark harmonic move of the Bitcoin cash that I posted on the 19th of March 2020 in my previous article. This was the pattern that helped the priceline to re-enter in the potential reversal zone of the big bullish Gartley pattern that has been formed on the monthly chart. As we can see that after entering in the buying zone of the bullish shark pattern on the 4 day chart the BCH took a powerful bullish divergence that produced more than 102 percent profit. Now from the buying zone of the bullish Gartley pattern we can expect up to 163% profit spike. So if you want to take it as a single trade then you can buy it within the potential reversal zone of this big gartley pattern and sell it within the Fibonacci projection or sell area as I have defined on the chart but in this case you should make your stop-loss the potential reversal zone that is up to $168. But if you want to hold it for the long term then you need to watch out for the breakout from the different resistance levels as we have discussed on the short-term daily chart. And if you are looking for that Bitcoincash achieve the highest price ever in its history then we need to watch out for the breakout from $500 resistance level. That is the strongest key level resistance for the Bitcoin cash. Bullish Shark on 4 day chart: Ichimoku cloud: Now I would like to take you to the weekly chart where long term bullish signal can be appeared in the future by the ichimoku cloud. As we can see that so far the price action of Bitcoin cash is not able to cross up the ichimoku bearish cloud. Once in the month of February 2020 the price action crossed up this cloud but during re-testing the cloud resistance as a support it was filled and drop down again. Once the priceline of Bitcoin cash will be able to cross up the ichi moku cloud successfully then the Bitcoin cash can turn bullish on the long-term for the next 2 or 3 years. Conclusion: If the price action will be not able to break out the next resistance levels on the daily time period chart. then we can witness further downside rally. But on the long-term the Bitcoin cash has formed is very big bullish patterns therefore on the long-term it is bullish. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
COINBASE:BCHUSDLong
by moon333
1
Bitcoin Cash: Descending Channel Consolidation 4H (Apr.23)X FORCE GLOBAL ANALYSIS: In this analysis, we take a look at the technicals demonstrated in the chart of Bitcoin Cash (BCHABC) Bullish Evidence - Previously, we have seen parabolic breakouts for Bitcoin Cash after consolidation phases - It could be said that we are currently consolidating within a downwards parallel trend - This could turn out to be a textbook bullflag pattern - We are still above the 0.236 Fibonacci Support - The Relative Strength Index (RSI) shows higher lows Bearish Evidence - We are in a downtrend, creating techincal lower highs and lower lows - We have broken down from the 0.5 Fibonacci resistance, the 0.382 Fibonacci resistance, and now possibly the 0.236 Fibonacci resistance - The RSI also shows lower highs - The Moving Average Convergence Divergence (MACD) demonstrates mixed signals and a lack of momentum to drive a bullish breakout What We Believe We believe that Bitcoin Cash will continue its bullish rally only given that it breaks through and closes above the descending parallel channel trend line resistance. Trade Safe.
COINBASE:BCHUSD
by XForceGlobal
2