BCH Targets Hit as PredictedBCH had a very nice run, but when you properly apply divergence indicators and TD counts on the right timeframes... it's not that hard to spot a good short.
BCHUSD trade ideas
BCH continuationPrice is already at an important level for BCH. A failed mitigation of the remaining sell orders from here will confirm a good buying opportunity towards 300$ and even 450$ as a our main target. But, if price reacts from here and drops towards 200$, we will need more confirmation. Only a succesful break above 200$ can confirm the buys, otherwise price can still retest the current low at 170$ and even liquidate it.
BCH target to $400+Yesterday, due to Grayscale winning a case against the Securities and Exchange Commission (SEC), the crypto market witnessed a surge in coin prices. Fundamentally, this was significant news that spurred the bulls into action, causing the price of Bitcoin to reach $28,000. During this time, an interesting pattern was exhibited by Bitcoin Cash. It broke through its resistance at $208 and closed the day at $225. In the prior crypto market downturn, Bitcoin Cash touched its 200 EMA and executed a successful reversal after retesting it. Notably, yesterday, Bitcoin Cash broke out of its Bull Flag pattern. According to the pattern, the anticipated target is around $400-$410. The Relative Strength Index stands above 50, and the Moving Average Convergence Divergence also displays a bullish crossover. Currently, Bitcoin Cash is being traded at $215 and is in the process of retesting the Bullish Flag trendline. An essential support level for Bitcoin Cash lies at $210. The 200 EMA serves as robust support, and it is imperative for Bitcoin Cash to maintain a close above this level.
Bitcoin Cash demonstrated its support at the 0.618 FIB level, approximately $182. At present, it is trading above the 0.5 FIB level. Sentiments are decidedly bullish for Bitcoin Cash, yet it remains crucial for the cryptocurrency to uphold its $180 support level.
Will Bitcoin Cash Price Cross $250?BCH Bounce: Bitcoin Cash made a significant recovery, bouncing from a crucial support at $180 to cross the $200 psychological barrier.
EMA Breakthrough: BCH successfully broke above the 50-day Exponential Moving Average (EMA), indicating a potential bullish trend.
Recent Performance: Over the last eight days, BCH has shown a strong 23.60% bounce from its 200-day EMA, suggesting underlying strength.
Resistance Ahead: BCH faces a supply challenge at $228, which coincides with the 38.20% Fibonacci retracement level.
Bullish Indicators: The daily Relative Strength Index (RSI) has shifted into the bullish territory, while the Moving Average Convergence Divergence (MACD) has signaled a bullish crossover.
Potential Upside: If BCH can sustain its momentum and break the $228 resistance, it has the potential to target higher levels at $258 and even $300.
External Factors: The upcoming Bitcoin ETF decision could significantly influence BCH's trajectory. A positive decision might further fuel BCH's rally, while a delay could pose challenges.
Caption from Detailed Technical Analysis Pointers:
🚀 #BitcoinCash Analysis Deep Dive! 🔍
BCH Bounce: From $180 support, now above $200! 📈
EMA Signal: Broke the 50-day EMA, bullish trend ahead? 🌟
Recent Surge: Strong 23.60% bounce off
Will It Cross $250?
Will BCH Price Cross $200?BCH's Rebound from 200-day EMA: Bitcoin Cash has bounced back from the 200-day EMA, indicating a potential reversal from the bearish trend.
Key Resistance at $200: BCH is challenging the $200 resistance level. A successful breach could lead to a price target of $228 or even $258.
Historical Performance: After a 200% rally in June, BCH saw a significant correction, dropping below $200. Despite this, its YTD growth stands at 99.18%.
Current Trading Price: BCH experienced an 11% bounce from the 200-day EMA but faced resistance at $200, causing a 3.07% drop. It's currently trading at $191.57.
RSI Indicator: The daily RSI has moved out of the oversold territory, hinting at potential bullish momentum.
External Factors: The upcoming deadline for Blackrock and Grayscale Bitcoin ETF could act as a catalyst for BCH's price movement.
Correlation with Bitcoin: BCH's price movement is closely tied to Bitcoin's performance. A potential recovery in Bitcoin could benefit BCH, pushing it towards $228 or $258.
Potential Downtrend: If Bitcoin drops below $26K, especially with delays in SEC's Bitcoin ETF approval, BCH could see a decline. A drop below $180 for BCH might lead to a further decline to $150.
Can 200-day EMA Be the Springboard for Bitcoin Cash?Silver Lining: BCH steadies its price at the 200-day EMA after a significant fall, suggesting a potential solid support and buying zone.
Market Resilience: BCH remains stable over the past week, largely unaffected by the broader market sell-off.
Key Support Levels: Both the 200-day EMA and the 61.80% Fibonacci level at $180 indicate strong investor confidence in BCH.
YTD Gains: BCH boasts an impressive 96% year-to-date gain, outperforming many major altcoins.
Decline from Peak: A 42% decline from its 2023 peak raises questions about BCH's future trajectory.
Technical Indicators: The daily chart's Stochastic RSI and RSI hint at a potential comeback from oversold conditions.
4H Chart Analysis: A double bottom pattern seems to form around $180, with a $190 neckline, suggesting a bullish trend.
Bullish Divergence: The 4H RSI shows a bullish divergence, increasing the likelihood of a positive breakout.
Potential Reversal: Technical signs point to BCH preparing for a reversal, possibly surpassing the $200 mark and aiming for $228 (the 38.20% Fibonacci level).
Downside Risk: If BCH dips below $175, it could further decline towards $150.
BCHUSDTRisk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, that I am not responsible for your investment decision.
Thank you.
Good luck
downtrend structure still valid at m15To sell, first of all we need to make sure the price has made a downtrend structure which is H-L-LH-LL. Next, make sure the price does not exceed the LH level which shows that the price still has the strength to go lower. Next we can enter with a risk reward ratio of at least 1:1.
the price has broken the trendline, however, the price has not yet been able to rise above the LH, so we still consider the price to go down further.
Bitcoin Cash price gives a bearish breakdown of a falling channe
Bitcoin Cash price gives a bearish breakdown of a falling channel, with an intense rise in selling pressure.
The breakdown rally approaches the 200-day EMA, with buyers hoping for a reversal.
Market-wide FUD crashes altcoins, leading to a 20% drop in BCH price, breaking under the 50-day EMA.
At the confluence of the 200-day EMA and the 61.80% Fibonacci level, a lower price rejection shows a resurgence in buying pressure.
The downfall from the 50-day EMA to the 200-day EMA increases trading volume, reflecting a boom in the selling spree.
BCH coin price forms a Doji above the 61.80% Fibonacci level, projecting a potential reversal opportunity.
Technical indicators show a rise in underlying bearish sentiments, with bearish MACD histograms resurfacing.
The confluence of the 61.80% Fibonacci level and the 200-day EMA at $175 provides a bounce pad for BCH price.
If prices manage a reversal, BCH price can reach $228; a downfall below $175 will crash the price to $150.
Bullish Flag on Bitcoin Cash: Are We Going to the Moon?I observed a possible trend continuation on BINANCE:BCHUSD.P
It broke out of the local resistance level, then it is forming a bullish flag pattern at the top of the trend, this is a possible signal for bullish continuation if BCH is able to break out of the flag channel.
Do you think that BCH will continue with the recent uptrend?
Share your thoughts with me in the comment box.
Don't forget to follow me now for more insightful technical analysis.
BCH continuationA break above the latest area of supply from 220-250$ would confirm a potential move towards 300$. On the other hand, if price contines to respect 220$ and close below it, BCH can continue to drop towards 180$ and even lower.
Bitcoin Cash AccumulationBitcoin Cash Accumulation broke below the zero line in June 2022 and consolidated around there for 6 months. BCH/USD Accumulation broke above the zero line in January 2023 and consolidated around there for 6 months. Now, after 12 long months, BCH/USD Accumulation jumped to the + 1 million Accumulation line over the past few days. Based on this BCH/USD Accumulation my long term price targets are in a wide range from 239 - 619 based on BCH/USD price discovery history angle of trajectory. I think it's likely 239 will act as resistance until it becomes support afterwards.
BCH looks Strong here Break of the wedge soon Scalp BCH appears to be gaining strength, and a breakout from the wedge pattern might be imminent. 🚀 If you're looking for a short-term opportunity, consider a scalp trade here
$BCH! After filling the fair value gap 226$ regained its previous monthly low resistance, which is a notable move.
This could potentially indicate a shift in sentiment and strength.
1. NYSE:BCH seems to be forming a falling wedge pattern. Falling wedges are often considered bullish reversal patterns, suggesting that despite the name, they can lead to upward price movements.
2.📊 Detected RSI divergence on the 4-hour (4TF) chart for $BCH! 🚀 This divergence could indicate a significant shift in momentum and potential price movement.
3. 📊 Notable increase in trading volume for $BCH! 🚀 Strong volume often accompanies significant price movements, indicating increased market participation and potential momentum.
Stay mindful of your entry and exit points, set stop-loss orders, and allocate only what you can afford to risk. 📊💼 #RiskManagement #LongPosition #SmartTrading #PreservingCapital
With Sellers Back In The Ring, Will Bitcoin Cash Cross $300?
Falling Channel Pattern: Extensive selling pressure above $300 led to a falling trend, taking support at the 50-day EMA and 23.60% Fibonacci level, dropping to $220.
Bullish Flag Pattern: The correction phase is seen as part of a bullish flag pattern, following a 200% jump in late June, signaling a potential uptrend beyond $300.
6.63% Jump on 7th August: This jump, along with bullish confluence at the 23.60% Fibonacci level and 50-day EMA, projected a potential breakout, but higher price rejection prolonged the bear trend.
1.70% Fall and Morning Star Pattern: A fall followed by a couple of Doji formations leads to a morning star pattern, teasing a potential drop to $210.
Positive Technical Indicators: Despite the bearish signs, the MACD indicator is preparing for a bullish crossover, and the RSI line shows an uptick, predicting a positive outlook for August.
Potential New Bull Cycle: A daily candle closing above the falling channel could signal a new bull cycle, possibly challenging the previous swing high of $307.
Risk of Downfall to $200: A continuation of the current downfall could test the bullish dominance at the psychological mark of $200, posing a risk to the upward momentum.
time to Long Scalp BCH
🚀📈 Ready for a Long Scalp move on $BCH! Charts aligned, strategy set – let's ride the wave to potential profits! 🌊💰 #BCHLongScalp #CryptoTrading #ProfitOpportunity
✴️ Bitcoin Cash, End Of Correction? I Read The Comments!Someone asked in the comments about Bitcoin Cash, an update...
Bitcoin Cash (BCHUSD)
We are looking at the daily timeframe.
BCHUSD moved below 0.382 Fib. retracement and bounced before reaching 0.5 Fib., now moving back above 0.382, thus a bullish signal.
Today's session is really strong.
Closing above $236 can signal that BCHUSD is ready to resume growing. This stays true above $220.
Yes, Bitcoin Cash can resume growing.
That's my opinion/view.
It peaked 30-June, over a month of correction and the levels hit is more than enough.
If this changes, the charts are always changing, you need to define your own risk and stop levels but I wouldn't be surprised to see it go up.
Note: Candle close is needed for confirmation above $236.
The candle closes in 1 hour.
Do your own research.
I hope this answer your questions.
Thanks a lot for your comments and support.
Thanks a lot for the follow.
Namaste.
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BCHUSDTHello Traders,
Short BCHUSDT as we can see in the chart clearly it is making the triple bottom and it suceesfully re-tested the resistence and now we can see a this to touch lower support.
BCHUSD CONTINUATIONA break below 230$ with a proper closure at that level can make price melt towards 200-180$. On the other hand, if price manages to retest the latest supply at 240$-260$ and confirm that sell orders are no longer the dominant part, we can easily see buys towards 320$ once price breaks and closes above 260$.
Bullish Flag in BCH price action, Will it reach $400?BCH coin price is resisting the trendline in the 4-hour chart, struggling to sustain above the $250 level, indicating underlying solid bullish sentiment.
At the time of writing, the BCH coin price shows higher price rejection in the daily candle, hinting at a negative cycle in the falling channel pattern.
Bitcoin Cash price could regain bullish momentum at $228 or the 61.80% Fibonacci level.
A daily candle closing above the falling channel could signal a new bull cycle, potentially challenging the previous swing high of $307.
On an optimistic note, the BCH price rally could exceed the $307 mark to challenge the 1.618 Fibonacci level at $435.
The MACD indicator is preparing for a bullish crossover in the daily chart, and the RSI line is displaying an uptick from the halfway line, suggesting a positive outlook for Bitcoin Cash in August.
On the bearish side, if the BCH coin price falls below $228, it could plunge to $200.
BCH CONTINUATIONA break below 230$ can easily push price towards 200-180$. From there, price has higher chances of moving upwards towards 340$ and even higher. On the other hand, a break above 290$ already can prush price above 300$, but only a closure above that level can confirm a bullish continuation towards 340$.
BCHUSD (4H) - Bearish breakoutHi Traders
BCHUSD (4H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 231.60 support level. Only the upward break of 255.70 would cancel the bearish scenario.
Trade details
Entry: 231.60
Stop loss: 255.70
Take profit 1: 217.00
Take profit 2: 193.00
Score: 7
Strategy: Bearish breakout
