BCHUSD.P trade ideas
BCH/USD Outlook: Resilient Bullish Trend ContinuesHello Everyone,
Currently, the resilience of daily support for BCH/USD is noteworthy. Our primary objective is to secure a stable position above the 1D and 1M Pivot Points (PP) to validate potential further upward movement. Failure to achieve this may lead to additional testing of support levels. Presently, BCHUSD represents a buying opportunity within the 1D timeframe for both medium and long-term perspectives. Moreover, it remains a robust buying opportunity beyond the 1D timeframe. In summary, BCHUSD maintains its bullish trajectory and is anticipated to sustain its bullish momentum in the long run, based on the current circumstances.
TradeWithTheTrend3344
Bitcoin Cash Halving Jitters: A Cautionary Tale for Bitcoin?
With Bitcoin's fourth mining reward halving just days away, all eyes are on the leading cryptocurrency. However, a recent price slump in Bitcoin Cash (BCH), a derivative of Bitcoin, is sending a potential warning sign to Bitcoin traders.
Understanding the Halving
Bitcoin's mining reward halving is a pre-programmed event that occurs roughly every four years. It cuts the number of new bitcoins awarded to miners for verifying transactions on the blockchain in half. This economic model is designed to control the overall supply of Bitcoin, theoretically leading to price appreciation in the long run due to scarcity.
Bitcoin Cash: A Proxy for Bitcoin's Halving?
Bitcoin Cash (BCH) emerged from a hard fork of the Bitcoin blockchain in 2017. While sharing similar core functionalities, BCH has a larger block size, allowing for faster transaction processing compared to Bitcoin.
Historically, the price movements of Bitcoin Cash have often mirrored those of Bitcoin, making it a potential indicator for Bitcoin's future performance. This is why the recent post-halving price drop in BCH has some analysts worried about the potential impact on Bitcoin after its upcoming halving on April 20th.
BCH's Cautionary Tale: A 15% Slide
Following its own halving on April 4th, 2024, Bitcoin Cash experienced a significant price drop of around 15%. This decline suggests that the anticipated rise in value post-halving might not materialize immediately.
Furthermore, BCH futures markets also witnessed a significant drop in open interest, indicating a potential decrease in bullish sentiment among traders. Negative funding rates on BCH perpetual futures contracts further highlight a shift towards a bearish outlook.
Why BCH Might Not Be a Perfect Proxy
While BCH offers some insights, it's important to acknowledge key differences between the two cryptocurrencies:
• Market Capitalization: Bitcoin dwarfs Bitcoin Cash in terms of market capitalization. This vast difference means that Bitcoin's halving will likely have a more muted impact on its price compared to BCH.
• Adoption Rate: Bitcoin enjoys a wider user base and higher adoption rate compared to BCH. This translates to a potentially more robust and resilient market for Bitcoin.
What to Expect for Bitcoin's Halving
Despite BCH's recent price slump, predicting the exact impact of Bitcoin's halving remains a challenge. Here are some factors that could influence Bitcoin's post-halving performance:
• Institutional Investment: Increased institutional investment in Bitcoin could provide significant support for the price post-halving.
• Regulatory Landscape: Evolving regulations surrounding cryptocurrencies can significantly impact investor sentiment and market stability.
• Overall Market Conditions: Broader economic factors and the prevailing risk appetite in the market will also influence Bitcoin's post-halving trajectory.
A Measured Approach: Long-Term Perspective
While the BCH price movement post-halving is a cause for some concern, it shouldn't be the sole indicator for Bitcoin's future. Investors should approach the upcoming halving with a well-rounded perspective, considering the unique fundamentals of Bitcoin and the broader market environment.
Historically, Bitcoin has demonstrated a tendency for price appreciation in the long term after halving events. However, short-term volatility is inevitable. Investors should exercise caution and adopt a long-term investment horizon when navigating the complexities of the cryptocurrency market.
The Bottom Line: A Learning Experience
The recent price behavior of Bitcoin Cash serves as a valuable learning experience for Bitcoin traders. It highlights the inherent volatility in the cryptocurrency market and the potential for short-term setbacks even after anticipated positive events like a halving. While BCH might not be a perfect proxy, its performance offers a glimpse into the potential psychological impact of a halving on investor sentiment.
BCH Looking Bearish. Short Position at 675BCH is making HL and LL, It has the probability that it can go down to below 500.
BCH Huge liquidation at $718 to $720 RangeHello Everyone.
There is a huge liquidation of shorts at $718 to $720 range, Looks like we are seeing the 720 within the next 24 hours.
Regards
BCH pushing hardResistance at 720ish has already been hit, the sell-off is dying, RSI and Stochastic along with the linear regression channel are pointing towards a continuation upward after a pullback at the 720 resistance. A push above it would give a very healthy run up to just over $800.
BCH/USD: Bullish Outlook Despite ChallengesHello Everyone,
Despite prevailing circumstances, BCH/USD still presents a promising buying opportunity, supported by the alignment of key support levels. Despite oversold sentiment in the long term, BCH/USD is anticipated to continue its upward trajectory, indicating resilience despite challenges.
TradeWithTheTrend3344
Just some lines on a chartPrevious BCH halvening (04/08/2020) the price was $267
The upcoming halvening the supply will be cut in half again, so price will need to double compared to previous halvening in order for miner's to stay profitable.
Price target of $530ish
Bitcoin Cash (BCH) Chart Analysis: Observing Giant Double BottomThe BCH/USD weekly chart displays a pattern resembling a giant double bottom. If this pattern plays out, technical analysis suggests a possible price target exceeding $3200. Due to Bitcoin's historical dominance in the market, some consider Bitcoin Cash a "clone" and speculate that its price movements might echo Bitcoin's to a certain extent. This concept is similar to the idea explored in the movie Star Wars: Episode II – Attack of the Clones.
Bitcoin Cash ($BCH) Completes its 2nd Halving ThursdayBitcoin Cash ( CRYPTOCAP:BCH ) experienced an increase of nearly 15% in its price after completing its second halving event on Thursday, which occurred approximately 16 days before Bitcoin's halving. As a result of this event, the miner reward has been reduced from 6.25 to 3.125 $BCH. Despite an initial drop before the event, the asset's price quickly rebounded and climbed nearly 15% on Thursday.
Bitcoin Cash ( CRYPTOCAP:BCH ), a fork of Bitcoin, was created in 2017. It completed its second halving event on Thursday, which saw the mining reward decrease from 6.25 BCH to 3.125 BCH. The peer-to-peer payment network's halving occurred 16 days before Bitcoin's halving, marking an important milestone for $BCH. The asset's open interest increased by approximately 25% in response to the halving event. On Thursday, Coinalyze reported a total open interest in CRYPTOCAP:BCH futures of $674 million, up from $506 million on Wednesday, prior to the halving.
The anticipation surrounding the event pushed BCH's price to a three-year high of $705 on Monday. However, the asset's price experienced a correction on Wednesday, dropping to $561.70 before recovering nearly 15% after the halving on Thursday. This swift recovery indicates that CRYPTOCAP:BCH remains relevant to market participants and that traders are continuing to demand it.
At the time of writing, CRYPTOCAP:BCH is trading at $638 on Binance. According to Coinglass, nearly $5.3 million in derivatives positions were liquidated in the past day, likely due to the sharp correction and subsequent recovery in BCH's price. Overall, Bitcoin Cash's second halving event was a significant milestone for the asset and has had a notable impact on its price and open interest.
Bitcoin Cash5 years of wyckoff accumulation
Should reach most of fib levels.
Don’t forget to respect da pump
Bitcoin Cash vs Bitcoin Ratio BreakoutBCH looking strong here against BTC, could be a rotation going on. Maybe we get a bump and run, maybe not. Def one to keep an eye on.
Bitcoin Cash Pre-Halving Analysis: Time to Sell the News?You know that BINANCE:BCHUSD halving will happen on the 4th of April 2024, slashing the mining rewards by half.
I bought the rumor early enough, and I am ready to sell the news.
I will open a partial short position now, when there is a breakdown of the trendline, I will add to my position.
Warning
- Don't overuse leverage
- Manage your risk
- Manage your trades
What are your thoughts about this analysis? Could you share them with me in the comment box?
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Cheers!
Bitcoin Cash Retracement?Indicators suggest CRYPTOCAP:BCH could be primed for a pullback before the next surge. After a 5-wave rally, we're touching multi-year resistance. The RSI is tipping into overbought territory, hinting at retracement potential. While weekly charts don't show bearish divergence, other timeframes do. If the retracement unfolds, I'm eyeing the $200-$150 range at the 0.618-0.786 Fib levels. Brace for impact, as a sharp drop could retest support line.
bitcoin cash vaves resetRecent choppy move up not characteristic of vave 3.
I think bch still in vave 2 flat, looking for 5 vave move down as a reset after
halving froth.
nfa
y axis only
BCH Price Ready To Hit $1,00040% Weekly Jump: Bitcoin Cash (BCH) has outperformed Bitcoin in weekly returns with a significant 40% increase.
$700 Breakout Aim: The uptrend is aiming for a breakout at the $700 resistance level.
Potential $1000 Target: Overcoming the $700 mark could set BCH on a path to reach $1000.
Bullish Trend Motion: Despite Bitcoin's bearish start, BCH showcases a strong bullish trend.
Bitcoin Halving Boost: Anticipation around Bitcoin Halving is expected to benefit Bitcoin Cash as a cheaper alternative.
Market Cap and Returns: BCH's market cap is at $13.40 Billion, with a 68% return over the last 30 days.
Bullish Flag Pattern: A range breakout indicates a bullish flag pattern, leading to massive engulfing candles.
Fibonacci Levels: BCH has surpassed the 23.60% and 38.20% Fibonacci levels, aiming next for the 50% level at $762.
Current Trading Price: Trading at $678, BCH exhibits an indecisive pattern with a Doji candle formation.
Bollinger Bands Expansion: The uptrend stretches the upper Bollinger Band, showing buyer dominance.
Next Resistance Level: After $762, the next notable resistance level is at $920, with potential sights set on $1000.
Sentiment-Driven Rally: The bullish sentiment around the crypto market could push BCH towards the $1000 mark.
Bitcoin Cash - 50K?Charting the potential future of Bitcoin Cash (BCH) with a keen eye on technical analysis! A breakout above a key descending trendline on the chart hints at a bullish surge. Could we witness a staggering 5846.42% increase, possibly up to $50K? Only time will tell.
BCH Price action conceptI know, I know. BCH. Nobody cares abut BCH. That's make me bullish on this one. Put away the ideology and look at this pattern. What if it really lagging so badly behind BTC? What if it follow similar pattern like the Papa? It could reach 7000 Dollars? And right now it's so dirt cheap. Risk to reward is looking good. I'm grabbing this bargain. No financial advice. Just a concept.
Celebrate the Success of Bitcoin Cash Post-Halving!I wanted to take a moment to share some exciting news with you - Bitcoin Cash (BCH) has been outperforming Bitcoin (BTC) since the recent halving event!
In the weeks following the halving, BCH has shown remarkable resilience and growth, surpassing BTC in terms of price appreciation and overall market performance. This is a clear indication of the strength and potential of BCH as a valuable investment opportunity.
As we continue to navigate the ever-changing landscape of the cryptocurrency market, I encourage you to consider diversifying your portfolio and investing in BCH over BTC. With its strong performance post-halving, BCH presents a promising opportunity for traders looking to maximize their returns and capitalize on the current market trends.
Don't miss out on the potential gains that BCH has to offer - seize the opportunity to invest in a cryptocurrency that is on the rise and poised for success. Join me in celebrating the success of BCH and take action today by adding BCH to your trading portfolio.
Let's ride the wave of BCH's success together and make the most of this exciting time in the cryptocurrency market. Happy trading!
New target BCHDigital cash with a security aspect, upcoming halving and flexible blocksize. We are at a bulish 4, this could easily go on for some time.
BCHUSD: Bullish Momentum with Support Retest PotentialHello Everyone,
The upward trajectory of BCHUSD persists, with daily support proving resilient. Current indicators suggest a potential retest of support, yet overall momentum signals a probable bullish continuation.
TradeWithTheTrend3344
Bitcoin Cash (BCH) Price Soars Ahead of HalvingBitcoin Cash ( CRYPTOCAP:BCH ) has been on a meteoric rise, surging 7.54% in the last 24 hours and 43% over the past week to reach $586. As the crypto market stages a recovery led by Bitcoin, BCH's rally has been even more pronounced, fueled by anticipation surrounding its upcoming halving on April 3.
The imminent halving event, which will see CRYPTOCAP:BCH block rewards reduced from 6.25 to 3.125 per block, has sparked investor enthusiasm and contributed to BCH's bullish momentum. Analysts predict that this reduction in supply could potentially drive prices even higher, with some suggesting the potential for 10X gains in the near future.
The recent surge in CRYPTOCAP:BCH price has been characterized by multiple waves of growth, breaking through major resistance levels and signaling a bullish trend. Relative Strength Index (RSI) further supports this bullish outlook.
Despite facing resistance levels at $650, $700, and $750, CRYPTOCAP:BCH has already reached a two-year high, with its current price levels not seen since November 2021. Whether CRYPTOCAP:BCH can sustain its upward trajectory or encounter a pullback in the short term remains uncertain, contingent on traders' behavior in the coming hours.
With BCH's halving just days away and market sentiment turning increasingly positive, investors are closely watching for further price surges and potential entry points. As the crypto sector continues to evolve, BCH's performance in the coming days could offer valuable insights into the broader market trends and the future of digital assets.
