Blitz_analysis

Blitz_analysis

MA is about to have a death cross in the 1-day chart, but the MACD shows a different signal. It's trying to get above the 0 line which would favor the bull side. The green box is the support zone. If 2 MA really crossed, it's likely to go back to the zone and test it again while having a double bottom, We'd like to see a candle close inside the orange circle if...

Blitz_analysis

Price has been consolidating in 355-392 for a while, this zone was created first in Jan. It's a heavy psychological point, as long as it's broken. Bull's momentum would be unstoppable. But now we can see the MACD momentum didn't follow up with the price. A bigger retreat is possible.

Blitz_analysis

I see this as an ascending triangle during the uptrend which indicates a further surge. It will need to brake the peak created on the 22nd March.

Blitz_analysis

because of the support from the previous resistance area, people are eager to buy higher than the neckline, and it forms a new consolidation range. Normally it should be rally up soon after the retreat of breaking through the neckline, but now the consolidation range signals how people think differently about the future trend, partly because El Salvador delayed...

Blitz_analysis

Take 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...

Blitz_analysis

Yesterday’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.

Blitz_analysis

Now 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...

Blitz_analysis

It'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...

Blitz_analysis

luckily 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.

Blitz_analysis

the 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.

Blitz_analysis

Blitz 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...

Blitz_analysis

I 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...

Blitz_analysis

The 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...

Blitz_analysis

The 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

Blitz_analysis

we 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...

Blitz_analysis

Inside the resistance zone with relatively dense trading volume, It probably needs a rest in the coming day as the 2 MA lines also disperse heavily. The bullish view is After a normal pullback under the uptrend, the price will go back to this zone and eventually break it while the bearish view is the price encounter high resistance here, push it crackdown again,...

Blitz_analysis

The price has been suppressed by the MA 50 in 1hour chart, so we will take this signal heavily on whether it can stand above 50 as a reference of our long trade and 1 hour chart is now trying to do it. Yesterday's pull back didn't break the previous low so bulls still has chance

Blitz_analysis

It is hard to say that the downtrend will stop here in the current position. But it still facing enormous support that has been acting as a psychological spot. MA has no sign of a golden cross, instead, it disperses parallel.