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BCHBTC

Bitcoin Cash hype dying down! Bitcoin Cash has broken below the trendline and is now finding it as resistance sitting on important support. A breakdown from this level could see us revisit the $500 level quickly with the overall target set near $460 on a Bitcoin collapse back down to $6200. MACD continues to trend lower while RSI broke below support but is heading back up to restest the breakout, which could end up being the ideal spot where price could head back lower and RSI return to the bottom for the range. A possible short trade would be to wait for the demand zone to break then take a short position on a retest and fail to break back above the S/R flip zone. Stops would be set above the retest of the trendline SFP and targets are outlined on the chart. Thanks guys
BShort
by CM_Trades
BCH - Could the run be over? Bitcoin Cash has been sitting on top of this very strong support level for over a week now and could potentially still break up higher into the supply zone above but we are seeing some bearish divergence developing. Price is currently just slightly above the 50%FIB level and needs to start moving upwards towards the top of the trendline to continue this uptrend. MACD is still nose-diving towards the center line while the Histo is hinting at higher lows while RSI has developed bearish divergence with price, which unless we can get a higher low forming within the next few hours with a price move up could spell further downside for BCH. The short and long targets have been outlined and could take a few attempts to achieve them but they are the main support/resistance levels that we can look for if the price does break out on either side. Bitcoin price will most likely dictate any movements at the moment so keeping a close eye there is very important. Thanks guys!
B
by CM_Trades
BCH bullish wedge in playAllot of people asked me to update BCH including my own members, so here it goes :) The big rally we had the past week when we broke the wedge happened with allot of volume. Confirming this move up completely. 100% textbook, just like some other alts have shown as well. If this was not crypto and if there was no Bitcoin, i would be 100% confident on this trade. But we all know, Bitcoin is still inside a very dangerous zone, even though there are some bullish signs, the bearish signs have the upper hand. So for BCH, if this green support holds, we could expect to see a rally the coming months. That would mean Bitcoin has to break upwards from that long term triangle it's still stuck in. On the right we can see a triangle for BCH, which could still turn into a flag as well, but it's best it stays above that support. The drop of the last few days has only been a pullback of that wedge. So things are still looking text book here. Previous analysis:
B
by botje11
10
BCH - Support must HOLD! BCH has returned to the S/R flip breakout area to retest and has so bounced right above it on the 50%FIB level. We need to see a dip into this zone hold for any hope of move upside momentum but those odds might be getting slimmer by the hour. RSI seems to have topped out, hitting resistance and turning over at the moment while MACD hit its top and is about to crossover bearish. This is also confirmed by the histo about to turn negative again, therefore waiting for this next test is crucial. This trade setup was not executed and has been canceled as we wait and see what the next few hours bring. Thanks guys!
B
by CM_Trades
BCH - Time to cool off or do we have another leg up?BCH has been on fire since yesterday and we are currently right up against resistance trying to break above. We have found support around the 61.8%FIB level and are trying to break higher but Bitcoin is having trouble breaking out itself. RSI seems to be topping off here and moving sideways while MACD is starting to push up into resistance but might have some juice left for another leg up. A safer play would be to wait for a retest of the breakout level around $530 and see it hold to play a long scalp position, however Bitcoin will dictate as always the price action of the entire market so any weakness in BTC should be taken seriously when trading altcoins. Thanks guys!
B
by CM_Trades
Just, just take your time and keep looking at the screen if you I think the BCH price is so hot right now, so I cannot recommend to open long-term position because if you open the 1-day TF you will see the strong resistance line (100EMA) @0.093. However, I think this action on the card is a good sign to build small position for a long-term period. The MACD: bull trap The RSI is at overbought zone. The EMA lines: you see a very popular phenomenon called "Golden Cross", when it happens the price revers its trend and in this case we are looking at the emergence of the new uptrend with big potential. TF: 4H ENTER: 0.076-0.078 PT:0.12 and higher GL Traders.
Long
by LudwigStirner
Bitcoin Cash | Good Breakout. Continuation? [BCHBTC]Bitcoin Cash just had a breakout with really good volume. If support above the first resistance and the MA can be established, I'd say that continuation is very likely. The move is supported by bullish divergence on the Daily RSI. It's a very tricky situation right now, because Bitcoin seems to be bearish and Altcoins usually follow. I'd say its possible that we see some sort of de-correlation in the near term. Altcoins are springloaded, every time BTC makes a tiny little move to the upside, we see massive gains on different Alts. In the past, BCH was sometimes seen as a hedge against BTC. We might get some of that sentiment back if BCH manages to push up even higher. As always, never FOMO into trades. Wait for consolidation pattern before you enter a position. My final take profit zone would be around 0.13 and 0.14, if BCH managed to get through the previous resistances.
BLong
by REKTCryptoTrader