It doesn't get more suspenseful than thisTonight we get resolution based on the termination of this wedge. Which way do we go???
BCHUSD.P trade ideas
BchSeems to be setting up for a nother pop above resiatnce. We can’t seem to find support on top of the patterns resiatnce but have popped it earlier this morning. This resiatnce comes in at 724. We need to find some support up here to show that we have finally exited this consildation. Don’t be faked out or fooled just keep an eye on 724 area also recent rejection came in at 735 so let’s see if we can see anything happen above that level also
A lot of Cryptos at the moment. Below is $BCHSo close!!!! You cant get anymore squeezed without some price action soon. My bet is on UP!
🚀₿𝙞𝙩𝙘𝙤𝙞𝙣 𝘾𝙖𝙨𝙝 at a crossroads ... 🤷♂️●● Mine scenario
● BCHUSD (COINBASE):🕐1D
"Fig.1"
The rise from the orthodox bottom of the triangle ④ formed a five-wave structure in the form of a diagonal, at least this variant of count can be applied to this structure in the context of the highest degree. The subsequent three-wave advance, which is labeled (2) , supports this idea. Cancellation of the scenario and, as a consequence, activation of the alternative wave count, - upon the breakout of the orthodox bottom ④ , the level "invalid" ..
● BCHUSD (COINBASE):🕐4h
"Fig.2"
"Fig.3"
Agree, the wave structure is extremely complex and its interpretation is ambiguous. Figures 2 and 3 show you two options for count, both of which are conducive to continued growth, the only question is: is the correction (2) formed or we are expecting a deeper rollback within the "black" count?
From the level of $ 600 there was a recommendation for a long-position. Upon reaching the levels of $ 880-1020 , we may partially reduce the volume of the long-position and prepare for a price decrease within the framework of an alternative count.
●● Alternative scenario
● BCHUSD (COINBASE):🕐1D
"Fig.4"
The global alternative wave-count suggests a large triangle in the primary wave ④ , within which a three-wave advance of the sub-wave (C) is expected.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
BchIf we can hold this 714 level as new support this would
Be great we are nearing the end of the apex so can’t go much lower then 712 tbh unless it fake wicks down. Hasn’t broken out yet but it’s getting sqeezed. Def got my eye on this level we are at as well as watching BtC for its next move
Bitcoin Cash, Potential Flag-Formation, How It Completes!Hi,
Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. Bitcoin Cash bounced with this initial bullish move to the upside where it now firstly pulled back however these pullbacks were not that strong and Bitcoin Cash managed to hold the structure in which it now established this descending-channel-formation with the coherent wave-count within and the waves A to C almost already completed. When Bitcoin Cash now moves on to stabilize further in the structure this can lead to a sufficient breakout above the upper boundary and when this happens it will be the setup for further continuation and completion of the channel-formation as a bull flag. For now, it is important to elevate how Bitcoin Cash moves on with the potential breakout, it will be an interesting journey ahead.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.
Bitcoin Cash (BCH) - June 2Hello?
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(BCHUSD 1W Chart)
(1D chart)
You should watch for any movement out of section 625.76-785.84.
If it goes down, we should see if we can move up along the uptrend line.
If it falls from the 625.76 point, a Stop Loss is required to preserve profit and loss.
If it finds support by moving towards the 785.84-865.88 section, I would expect a reversal of the uptrend line.
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(BCHBTC 1W chart)
(1D chart)
It remains to be seen if it can move above the 0.018878 point to find support.
If it goes down, you should check to see if it finds support at the 0.016063 point.
To convert into an uptrend, it needs to rise above the 0.019459 point and find support.
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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Repeat of April?Similar setup to what we saw in April, but on a much larger scale. After a couple weeks of being neutral, I'm going to go ahead and call the bottom. Going long for the month of June! Will reassess at $1200. See y'all there ;)
BCUSDT silent moverBeen Watching BCH.. looks to be a slow mover, but I think it has some fast upside potential as the market determines what its doing. Recall earlier chart it wanted to break out, but BTC entered its downward bear market cycle. I think BCH just trying to make a name for itself while BTC takes a nap. Lets see what happens. I got intermediate target and final target market (grey lines). Intermediate just means expect a pull back and possible rise back up to the target.
UPDATE BCH LONG BCH created some important zone on daily for possible move up once the level breached
BchLooks so similar to bitcoins chart as most crypto follow Btc. We broke the resiatnce of this triangle. Came back backtested if. If we can confirm support above 715-724 it could
Be a great long trade that’s my next trade I’d watch. Following resiatnce 760$-800
BCH Long Price came heavily but we have good demand zone where price may turn into bullish & zones broken down for possible moves up.
BCH/USDT, looking weak!!!A triple top structure with a bearish flag for continuation. Breaking 680 levels can give BCH/USDT some tough time!
BCH BEST BUYS + TARGETSLike to support and follow for more content!
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BCH went from 1600 to 600, this is a great buy opportunity, our best entry points are:
600
500
400
Take profit levels:
Short term: 800 and 1000
Mid term: 1600, 2000 and 2500
Long term: 4000 and 5000
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What do you think?
Good luck traders,
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
