BCHUSDT trade ideas
BCHUSDT back to 330?The marked candle is what we call a ' structure candle'. The market often tests these. Now we only have to wait for the right entry to get into the position to ride along with this movement down. However, currently the market isn't ready yet for this short, so we wait until it does. And if the market creates price action which invalidates our possible setup, that's no problem either, since we wait for the right environment before taking the trade to maximize our chance of success.
BCH analysisTake a close look at the daily data price charts, a W bottom pattern has formed. Not only does it follow a major downtrend but a spike in volume occurs during the price movements.
This is an important bullish reversal pattern as it shows after a continuous falling market. BCH market has stabilized at a certain range since 22th Jan, so the buyers drove the rebound. But after rebounding to the neckline, the price fell back to the previous low due to the pressure of profit-making participants. Now It rebounded and broke through the high of the last rebound, which the neckline (or neckline+5%) would be an ideal entry price. Theoretically, the expected reversal height would be the vertical height between the bottom low and the neckline.
We also need to notice that W pattern is not necessarily a reversal signal, but sometimes a consolidation pattern. These two lows appear very close, which might lose some credibility and the price might continue to move in the original direction.
BCH 1 day analysisYesterday’s high goes to 387.1 then encountered an 8.7% retreat. To keep the momentum we have recent strong support at around 343. From 15 mins chart, It's likely to have a small rally up again then test the support area.
BCH/USD - Resurrection from the dead. PUMP time! 🤣BCH has been dying since May 2021, but now it is time for resurrection. Easter is coming so the timing seems very good. 😅
After a prolonged downtrend which formed a large falling wedge, BCH has its FIRST real chance to break away.
Price is currently moving quickly to the key resistance at $380 which coincides with the edge of the wedge.
A successful breakout there and retest of this level as support can take BCH to the next key resistance at $465.
The indicators support a bullish bias. MACD, RSI and OBV are all bullish. This latest candle was on strong volume. If BCH can sustain this, then fireworks can happen.
Bias is bullish right now, but don't dismiss a possible rejection at $380, before the real break can take place.
Patience is key, but this chart looks primed for some sustained gains in the future. Can BCH return to the spotlight?
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BCH bullish Harmonic Vs Elliott wave
BINANCE:BCHUSDT
BCH is here, big TF 3Day structure looks like the market is recovering again with #Harmonic and #Elliottwave merged, what a beauty.
Bulls are again attempting to push through $360-levelBitcoin Cash coin approaching the crucial supply zone after drawing the triple bottom formation over the daily price chart.
Bitcoin Cash reclaimed 8% market capitalization, which is now at $6,74 Billion.
The daily bitcoin cash price EMA ribbon as seen above the red ribbon of the indicator supports a bullish trend but the digital asset price is still below the 200-EMA (yellow). Moreover, Stoch RSI is looking flat in the overbought area concerning the regular price graph. Nevertheless, the Average Directional Index shows a slightly bullish trend for the Bitcoin Cash coin.
It looks like Bitcoin Cash holders don't want to miss out on a buying opportunity and may be able to jump the crypto price above the supply zone. On the other hand, if they fail to go up, they may again face a pullback.
Support level - $300 and $280
Resistance level - $360 and $470
BCH analysisNow the price has entered our resistance zone and MACD shows great momentum while KDJ is in overbought conditions suggesting that the resistance level is reached and the rate is likely to fall. Yesterday the market just retreated symbolically with little actual pull back, but this time all the pressure amounted together would create a bigger slide. So short-term drop is most likely to happen but as long as the price didn't break down the support zone, we are still in an uptrend. Whether today's candlestick can close above 339 is also an important indicator.
BCH 1 day analysisIt's been successfully created an uptrend with higher highs and higher lows. The next target also a high-value zone is 350~362. With expected resistant pressure mounting in this zone, we can imagine the effort needed to overtake it requires a huge volume from the bull side. Though the market might approach and try to break it soon. Support: 312, 295. BCH has bound back 23.38% In the past 15days, so be careful of entering a long trade if there's not enough volume.
SHORTING BCHHello guys, we follow the chart and candlestick formation is showing price rejection on the resistance trendline, we should expect a pullback , so we can short for some profits.
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Bitcoin Cash (BCH) Sell ZoneBitcoin Cash (BCH) Sell Zone
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BIAS
Mid-Term : Neutral
Long-Term : Bullish
Risk : High
Short-term scalping and expecting a formed bearish pattern, currently its facing out the mid-term resistance zone which is potential reversal zone of it.
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$BCH/USDT SHORT SETUP
Leverage : x3 - x5
Entry Price : 324 - 335
TP 1 : 320
TP 2 : 315.75
TP 3 : 310
TP 4 : 306
TP 5 : 301.2
TP 6 : 295.5
TP 7 : 292
TP 8 : 287
Stop Loss : 344.44
*Maximum 3% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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BCH about to movebch is looking great to accumulate down here,
could potentially be close to breaking the down trend
BCH 1 day analysisluckily the price now holds above on the support (black line) and it's just tested the upper band of the previous channel. KDI is still relatively high and requires the bulls to cool down a bit which could lead to a double bottom pattern. MA are not clear whether a death cross will form. Even there's a death cross it could end up in a short time.
BCH 1 day analysisthe channel has been broken to the upside thus the uptrend is continuing with a very low value of KDJ indicator. This signals the upper line of the previous channel would be a support and price could start to rise from there in a new round. First buy point: upper line of uptrend channel, second: MA50.
BCH 1 day analysisBlitz Bear: The problem is one day chart the price is still being suppressed below MA and already formed a long upper shadow line. So if it going to start a pullback then the best choice is to go back to the lower line of this uptrend channel.
Blitz Bull: Following the BTC's rally up, now it's a good opportunity to break through and head to at least 320. The previous high has already been overtaken and that means the end of the downtrend.
BCH 1 day analysisI see it's necessary for the market to pull up and touch the uptrend line as well as the resistance line. The current uptrend is creating higher lows and the KDJ went to a relatively low point, plus the candlestick gave us some positive signals too(bullish engulfing pattern). This candle at 8 am (UTC) is important because if it can hold within the previous candle's shadow line, it could further underpin the bull view.
BCH 1 day analysisThe price just got back to the channel if we just look at the nearest market movement. This indicates that currently, the bulls are still in power. Another good news is the price now stands above MA20 which potentially will form a golden cross thus will create another upside wave. Nonetheless, KDJ signals a small market pullback is needed because of the high number value. When the price touches the lower line of the channel or creates a big lower shadow, it might be a great opportunity to enter long trade.
BCH about to movebch is looking great to accumulate down here,
could potentially be close to breaking the down trend
in a yearly accumalation zone
could be ready for a big move up
BCH analysisThe good news is the price is still in a consolidation range of downtrend now while the bad one is we can see the market is showing low-highs which would likely put the price going down further. With MACD just had a dead cross while MA is trying to get a positive move. The upper line of this downtrend triangle could be an instructive point if we are seeking a short trade
BCH analysiswe have price pushing lower to a major level of support that prevent the market down. The macd indicator hasn't created a cross yet to give a signal of buy at this point. In this case, we need more confluency in getting together to look for a trade opportunity. Alongside there's no clear candlestick pattern that shows a buy trade would work. So with these reasons come together, low likelihood to involve now
