BCH/USD Poised for Upside After Support TestHello Everyone,
Here we go again with BCH/USD! The price just tested the previous support level, respected it, and looks poised for further upside. Let's go BCH!
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BCHDAI_B41F5D.USD trade ideas
bitcoin cash is waiting for reaction to trendline Bitcoin Cash (BCH) is a crypto asset running on its own blockchain network. The main Bitcoin blockchain underwent a hard fork in 2017 after disputes among the community regarding technical aspects of its makeup. The fork resulted in two different blockchains and native assets: BTC on the original Bitcoin blockchain and BCH on a new Bitcoin Cash blockchain. Both cryptocurrencies have a maximum supply of 21 million coins.
BCHUSD - FALL CONFIGURATIONThe H4 Elephant Bar, which announced the fall, did not favour risk management, as it left us without a stop loss option.
The bar that followed the elephant bar was of little significance and revealed the possibility of a correction of 2/3 of the previous bar without, however, losing the downward configuration. For this reason, our sell entry is at a future point around 445.90. Selling at this point gives us a good stop-loss location with risk-reward = 3.
Multi-time Fibo clouds are aligned and compressed for selling and are the main filter and guidance for this trade.
Translated with DeepL.com (free version)
BCH Eyes $1000 This Year With A Reversal At $400Fibonacci Fluctuations: BCH's recent reversal from the 50% Fibonacci level to test the 23.60% level highlights key technical thresholds influencing price movements.
Sideways Consolidation: The price stabilization around $400 extends a sideways trading pattern, indicating a period of market indecision.
Bullish Rebound Potential: A potential bullish resurgence could see BCH prices soaring towards the $1000 mark by 2024, given the right market conditions.
Buy-the-Dip Opportunity: The current price level near crucial support offers an attractive buying opportunity for investors looking to capitalize on future gains.
Market Recovery Sync: As the broader market begins to recover, BCH's close correlation with Bitcoin's price movement could play a crucial role in its price trajectory.
Technical Resilience: Despite recent bearish pressures, a 0.77% intraday recovery indicates a slowdown in bearish momentum and a possible setup for a rebound.
Golden Crossover Anticipation: The expected golden crossover between the 50 and 200 weekly EMAs could significantly bolster bullish sentiment.
RSI Indications: The RSI pulling back from the overbought territory while staying above the mid-line suggests that the selling pressure may be easing, maintaining a bullish outlook.
Support Confluence: The proximity to the $400 level, coupled with the 23.60% Fibonacci level, forms a strong support confluence, enhancing the chances of a bullish reversal.
Downside Risks: A breach below $400 could lead to a retest of lower support around $250, adding a cautionary note for traders.
BCHUSD Bearish side Money Heist PlanMy Dear Robbers / Traders,
This is our master plan to Heist Bearish side of BCH/USD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned with target in the chart focus on Short entry, New Robbers who looking to join the heist they should enter after the breakout only. Our target is Green Zone that is High risk Dangerous area market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic resistance level, Once it is cleared we can continue our heist plan to next target.
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700 short term target, 1500 1yr target Bitcoin cash is still in an uptrend with daily chart showing a bullish continuation pattern after successfully retesting support and it holding from C leg. Also on the total market cap, you can see the bull flag present. A breakout of 9.5 billion total market cap is needed for price action to go higher.. I'm accumulating dips for the breakout set-up. C leg is buy set up, d leg is the resistances level .
BCH/USD: Long-Term Bullish Outlook Despite Recent DownturnHello Everyone,
Despite the recent downturn, BCH/USD maintains a long-term bullish outlook, with the potential for an upside move looming. However, it's essential to exercise caution, as a breach and sustained lock below the 1D PP could indicate further downside.
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BCH/USD WHITE SWAN HARMONIC PATTERN PRINTINGOn the daily time frame SET:BCH has printed a bullish white-swan harmonic pattern that is almost in completion for upward continuation📈
A Bullish candle close on the daily tf with good volume above the $382 area will be a good entry
BCHUSD Bitcoin Cash Bullish Robbery Plan on Up SideDear Crypto Robbers,
This is our master plan to Heist Bullish side of BCHUSD Bank. My dear Robbers U can enter at the any point above my entry area, The Heist was started at the Moving average Pullback Push. Our target is Red Zone that zone is Venomous Snake area Be careful and Be rich. Loot and escape near the target 🎯 Please Look at the plan carefully before enter to loot money.
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Bitcoin Cash (BCHUSD) Quick Video IdeaEASYMARKETS:BCHUSD Bitcoin Cash
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FREEDOM CURRENCY BOW DOWN Biggest line BCH needs to flip into support is $1600. When that happens $8K quick. End targets $14-16K. MAXI TROLLS WILL BE CRYING.
Long-term Bullish Outlook for BCH/USDHello Everyone,
Long-term prospects for BCH/USD appear favorable, with 460.946 serving as a robust 1M support level. Any potential breach of this level could prompt additional testing of support. However, overall, the enduring trend suggests a solid bullish trajectory in the long run.
TradeWithTheTrend3344
The great bum (MEME)Like we see clouds in various shapes in the sky, can we see a nice bum in BCH chart? Let's effing goooooooo....
BCH/USD: Strong Long-Term Buy Despite Recent DipHello Everyone,
Despite the recent downward swing, the BCH/USD pair maintains its status as a robust long-term buy, with solid monthly support maintaining its stability.
TradeWithTheTrend3344
BCH - Looking UpwardsLooks like there is at least one more push up in BCH. Tons of confluence at 1050 USD. We had a massive triangle breakout followed by multiple ABCs. Also BCH/BTC looks fantastic. Will meet massive resistance at 1050. If we can get past 1050 and flip the resistance to support we could get out of control - but I wouldn't bet on it. Also take a look at BCHG - will BCHG follow GBTC?
Bullish SHARK harmonic pattern on BITCOINCASH On the 4h time frame BchUsd pair has printed a bullish shark pattern that is almost in completion for a trend continuation on the upside.
Stoploss should be slightly below X.
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.
