BCHUSDT trade ideas
BCHUSDT - SHORTBCHUSDT, the trading pair for Bitcoin Cash (BCH) against the Tether (USDT) stablecoin, has shown some intriguing price action recently. It appears to be forming a rising wedge pattern following a retracement to the 61.8% Fibonacci level of the A-B impulse move.
Rising Wedge Pattern: A rising wedge is a technical chart pattern that typically indicates a potential reversal. It is characterized by converging trendlines, with the lower trendline being steeper than the upper trendline. In the context of BCHUSDT, this pattern suggests that while the price is making higher highs and higher lows, the upward momentum may be weakening.
Fibonacci Retracement: The retracement to the 61.8% Fibonacci level is a significant technical level. This level often acts as a potential support or resistance, and traders closely watch it for price reactions. In this case, the retracement to this level is noteworthy as it aligns with the formation of the rising wedge.
Trading Strategy: Waiting for a clear break of the lower trendline of the rising wedge is a prudent strategy. Typically, a breakout below the lower trendline may signal a potential reversal and a bearish move. Traders might consider shorting BCHUSDT or looking for opportunities to go long the USDT side (e.g., moving into a stablecoin) if they believe the price is about to decline.
However, it's important to exercise caution and use risk management when trading based on technical patterns. False breakouts can occur, and the market can be unpredictable. Therefore, it's crucial to confirm the breakout with other technical indicators, consider the broader market context, and set stop-loss orders to manage risk.
Additionally, staying updated with the latest news and developments related to Bitcoin Cash and the cryptocurrency market in general is essential, as external factors can influence price movements. Always ensure that your trading decisions are well-informed and aligned with your risk tolerance and trading strategy.
BCH: A sell-off near $220 has a higher chance of happeningBCH: A sell-off near $220 has a higher chance of happening
From the previous analysis, the price decreased and reached our targets.
However, in this analysis, I went into more detail and it seems that
the price can move down even more.
A sell-off near $220 has a higher chance of happening again.
We can see BCH going down to 190 this time.
You may find more details in the video analysis!
Thank you and Good Luck!
BCH has correction moovingThe BCH instrument showed a local preload, where the highs of the price gradually decreased, forming a figure known as a “descending triangle". This usually indicates the presence of a large participant in the coin with an increase in volumes. At the same time, there is a support level that was tested with a few touches when participants opened positions from this level and accumulated their stop losses behind it. I expect to see a gradual approach to the level with an increase in trading volumes and activity in the order book before the breakdown.
#BHSUSDT.P - GOOD PLACE TO GO LONG !When we look at #BCHUSDT.P, we see that it made a very sweet double bottom on the 1-hour chart. As a result of the fact that this double bottom is also formed at a nice support point and this is not enough, we have a total of 3 good data as a result of the Bullish Pennant being formed at the support point. of course, if we count the engulf candles etc., it seems like a very sweet trade. And i am in for a long position. The target is somewhere between $268-270.
Good luck!
No statement is investment advice !!!
BCH/USDT ↘️Hello Everyone 🙋🏽♂️
🔴 248.40
🟢 224.10
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP
Don't forget to hit the like bottom and write a comment to support us.
Follow us for more 🙋🏻♂️
Best Regard / EMA Trading .
Disclaimer:
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It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market .
BITCOIN CASH IS READY TO CRASH? 😎📉Again, we are going to sell BCH at the level, but we use a reasonable stop loss.
Why is this setup is interesting to me even when the market is pumping at the moment?
1. There is a resistance at micro level
2. A possible breakdown of the trendline
3. Bearish candle formation
I will open short right away, and be patient!
NB: If my trade should hit SL, that would be a bullish confirmation for BINANCE:BCHUSDT and I will definitely enjoy the ride.
What are your thoughts about this analysis? Let me know in the comment box.
If this analysis makes sense to you, follow me now and support my idea.
BCH/USDT Likely Ready For Bullish Rally?🚀BCH Analysis💎Paradisers, focus on BCHUSDT! Its current trajectory within the demand zone is nothing short of compelling. With evident buying momentum, it's poised for a potential bullish surge.
💎Historically, BitcoinCash has navigated within a descending channel. After its recent encounter with the channel's lower boundary, it's reigniting its bullish momentum. We're optimistic about its chances to rise towards the projected resistance.
💎Yet, caution remains essential. If BCH slips below the demand zone, it's highly probable it will retreat to the support for further assessment.
💎Enhance your trading decisions for BCH with ParadiseFamilyVIP. Delve into our expert analyses on BCH and other potential tokens, refining your crypto approach.
BCH analysis (short term)Hi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the BCH symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Bitcoin Cash BCH long medium-term trade #22Yesterday, the BCHUSDT price behaved quite well during the "circuses" that were organized using trigger words: "ETF" "BlackRock" "SEC"...
This manipulation "deleted" many shorts positions... but gave two points for reflection:
- there is strong demand for growth. The slightest trigger in the form of a tweet and the price of BTC is ready to push up +7.5% in 15 minutes, the last time it seems to have happened in 2017.
- What if, yesterday, many shorts' stop orders were deliberately knocked down to make it easier to fall without "extra passengers"? (There have always been paid-for articles or "accidental mistakes" in publications on the crypto market - it's a matter of price and benefit.)
Write in the comments what do you think happened yesterday and what will happen next?
Nevertheless, we are here to trade and make money on it. Therefore, we bring to your attention the conditions on which we are ready to enter the medium-term BCHUSD trade
Entry: in the range of $177.6-189.6 (the desired average price is $183.6)
Stop: $165.4 (-9.9%)
Take profit: $305.60 (+65.45%)
P/L ratio: 6.7/1
For now, we are taking a more pessimistic scenario as a basis, a price correction of -20% from the current one. Since it is not yet clear whether yesterday's manipulative events have finally worked on the price and what the final goal of the manipulation was.
However, if the BCH price corrects relatively smoothly and slows down around $201 (-12%) , then this is also a reasonable and convenient point to enter long.
We will closely monitor the movement of the Bitcoin Cash price and, if necessary, update the idea and the trade to adjust to the market situation.
Therefore, if you are interested in the BCHUSDT trade, please like, comment, and subscribe to us, and Tradingview will send you a notification when the idea is updated.
BCH still has many drops to come!From where I wrote "START" on the chart, the BCH symbol has entered the corrective phase.
Examining the waves, we seem to be inside an ABC.
Wave A has formed and we are now in Wave B. Our B wave has become a diametric, the last wave of which is only g left.
It is expected that wave G from B will end in the red supply box or a little higher, and we will enter wave C of a big drop and go down to the lower green box on which I wrote TP.
I specified the invalidation level, that closing a daily candle above this level will violate the analysis
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
BCH: Approaching SupportBitcoin Cash (BCH) technical analysis:
Trade setup : Following a bullish breakout from Channel Down pattern and above $200 resistance, with big volumes, price reached our target of $250 resistance for a 25% gain. Now we wait for price to either 1) break and close above that $250 level to signal resumption of uptrend with upside to $330, or 2) pullback to $200 support for another swing entry in uptrend.
Trend : Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance : Nearest Support Zone is $200 (previous resistance), then $140 – $150. The nearest Resistance Zone is $250, then $330.
BCH/USDT - Potential Return to EMAsHey traders👋
BCH coin caught our attentions with those EMAs being too far away from marekt price and BCH price being overbought overall!
We are looking for price to reach that lower support which is marked as a orange zone so keeping eyes open!! There is also a potential for a turnover and further bullish movement but as of currently we don't see a probability of that to happen at all!
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Yours Sincerely,
Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Rocket on Bitcoin CashHi guys, let's review the current situation on Bitcoin Cash.
Bitcoin Cash broke 200-220 resistance area and now aiming to 265-290 resistance area. BCH is looking much stronger than Bitcoin and if BTC is going to reach 28k than Bitcoin Cash most likely will be trading within 265-290 resistance area. At this point I don't see BCH plunging deeper than 220 price level. Most likely this level will be support from which it will jump to 265 price.
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Identifying Key Support: Analyzing BCH at 212.17 and Potential In the chart, I've highlighted a level with two touches at 212.17. Today, while reviewing the charts, I noticed that there aren't currently many compelling levels. Among the more evident ones, I've singled out this particular level. I'm looking to enter a short position if there's a breakdown below 212.18 for BCH upon approach. The approach to the level is crucial—it should ideally be gradual, and it's preferable to see some trading activity around that level before considering a trade.
