Bitcoin Cash second break out opportunityAfter failing to remain on the uptrend line shown in my previous idea, BCC / BCH is still showing consolidation action slightly below the $300 level. After a long time of consolidation there are neither buy nor sell signals, which means we will have to wait for a clear one to show itself soon. This technical analysis is based on the fact that after consolidation there will be a break out either up or downwards.
Conclusion: We still have to wait for a clear move.
BCC
Bitcoin Cash break outAfter Poloniex credited BCC / BCH to its users and nothing major happened, the market is now ready for some movement. The fear of Bitcoin Cash going down in price after another large exchange lists it is seen as the reason why it was in a rather long consolidation phase. The chart shows that the price has remained withing a certain range and is now reaching a break out point.
Long trades can be considered if the price does not break the uptrend line and starts going up from there.
BCHUSD 1h: What comes next? Two szenarios: 520 or 230 USD?As you see in the last chart ( BCHUSD-15-Until-8-8-240-USD-than-2-ways-poss-65-or-440-USD/ ), Cryptos are "Fibo business" (Fibo Areas). Now we are in an new phase with BCH. The steam is out, but Fibo is still important. We need to interpret fibo in a different way. So i see two possible szenarios: more up to 520 USD or down to 230 USD further down. Currently I see, that the down trend line could be stronger. In addition, we are in a decision triangle.
Let's see what happens. Happy trading. :-)
See also:
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Is BCC ready for the 0.13K???It will go up this way maybe???
First to the 0.13 and after it will have a little throwback and then go to the 0.15K...
Thank you
Bcash not BcrashBcash has gotten some legs on this reversal. Looks like we'll see a wave 5 here up to the support/resistance point of .16.
I would think we'll see this target by tonight or early tomorrow morning when I'm trying to sleep, but can't because I'm watching charts.
happy trading!
BCC double bottomAfter this double bottom if BCC break the 0.08 resistance it will go to the 0.09.
0.09 is just the beginning, the first target...
Thank you
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The Wall Is Gone! Road to 100 USD?BCH has found a pretty solid support level around 200 USD, but is this the bottom? I honestly don't think so.
Holders of BCH have the only way to deposit and sell their BCH from cold wallets at the moment (ViaBtc). And this way is not very well-known so I believe many people are still waiting for the opportunity to sell their coins. Morover some of marketplaces have not supported BTC hard fork (f.e Coinbase, Poloniex) and their users have not recieved any BCH yet. Poloniex users will receive their BCH at 14.08.2017 and Coinbase is planning to add BCH support in the begining of 2018.
That being said, the 3000+ BCH buy wall at 200$ price level is eaten for now and I am pretty sure the price will drop down to 150$ and even deeper in the nearest future. (probably after 14.08). But you have to be very carefull in short term trading, because there could be agressive speculative action and pumps to 250$ or even 300$ price levels.
BTCUSD relation to BCC(BCH) until 8 August and shortterm afterI do not really see big impact of the BCC (BCH) on the general BTC trend. On August 8, I see a price for BCC (BCH) at about 250 USD. For a BCC (BCH) up to 450 USD, this means a Down at BTC to about 2,650 USD. In the case of a crash from BCC (BCH) to USD 50, this means than a BTC up to USD 3,050. These are all "normal" movements at BTC. So, the overall BTC trend is still unimpressed.
Let's see what happens. Happy trading. :-)
LBCBTCA pennant seems to be formed in LBCBTC. Further breakout is possible when pennant breaks to the upside (mind the oversold STOCH RSI). However, when pennant breaks to the downside, price may fall to around 13.7 - 14k, assuming it will bounce on the larger triangle we can see when zooming out on LBCBTC.
BCash/USD Kraken vs BitfinexAs you can see, the current price BITFINEX:BCHUSD is as of this writing 10% lower than Kraken KRAKEN:BCHUSD .
This is a good indicator to see a possible future price.
There is a lot of support for BITFINEX:BCHUSD KRAKEN:BCHUSD that many might not see. I can tell you now that my honest opinion is that we will see $450 and higher in the coming 1-4 weeks.
This is the place to start accumulating small bits as the price goes down. Also, pay close attention to the BTC value. BITFINEX:BCHBTC KRAKEN:BCHXBT
This is of course very risky, so please use good money management and some patience.
Shorting, or margin trading is a very bad idea here IMHO.
A bottom? that is impossible for anyone to tell at this time.
I started buying at $303 on Kraken and will continue buying every 10%-15% drop from here.
Bearish Sell Off Possible? BCCHere we are, days before the possible split of Bitcoin to Bitcoin Cash (BCC). This could have a number effects on the cryptocurrency, least of which is some price movements.
It appears many are buying for the sake of having some BCC when the split happens on August 1st. These buyers could turn really aggressive bear after August 1st after they get their BCC.
On the charts, we have what looks like a double top forming. Not the best I have seen, but it has potential, especially when paired with the BTC split.
From the previous high, we see a 3.85% difference in the tops which is what you would like to see in this formation. This suggests that the bears kept the highs from smashing through the previous high or even touching it for that matter.
The fall down to the now neckline is in range for what you would want at 18.31%.
Volume appears to be slowing on the upswings while it is heavier on the way down.
The uptrend before this is exactly what I want to see coming into this. It has to be there in order for bears to take their profits.
Still waiting on a confirmation as to both the price direction and volume as to whether or not this double top takes place. It must break the neckline with sufficient volume in order to be considered worthy of trading. Again, this could happen if those buying for BCC sell out in massive numbers on or after August 1st.
And at least we have some good resistance lines in place that would be wise to look at.
BCC starting to trend higherLooking to buy the break out . 1st target is about 5 bucks away. Good risk reward ratio.
Short DASHDASH price has become MASSIVELY over-inflated into a giant bubble which has now burst.
Yesterday Bitfinex added BCC and BCU tokens to allow traders to speculate on the future price of BTC and BTU respectively (these tokens will then be fully-convertible post-fork).
Currently BCC (BTC) is surging ahead. This will lead to downward pressure on DASH which has been boosted in price partly as a speculation on BTC price crash.
It now looks likely that a hard fork will result in BTC maintaining a healthy price and market dominance and thus the bullish exuberance in Alts is near to run its course.