BCHUSD trade ideas
Trading recommendation for BCHIn the previous trade, the stop loss was triggered, but bitcoin acted as a guide, which generally indicates an ongoing trend. We see an impulse on volume, which occurs at the exit from the support zone, which is also a signal for the continuation of the upward movement.
BCH Spring Locked and LoadedNot a holder of this crypto, but BCH/USD is one of the late bloomers this cycle and is completely poised for launch.
Full 4.236 Fib extension using Coinbase Highs and Lows predicts an absurd value of nearly 18k.
Regardless of chasing 18K, you can see that this crypto is locked and loaded - even with today's price movement it is still under the "spring" and is preparing for launch into orbit imminently. It would not shock me to see it re-testing the previous high a few months ago within 2 weeks, if this does take off I will look deeper and see if it is reasonable to think it will test the previous ATH at 4K from December 2017 some time later this month.
BCH/USDT - Potential 107% Investment SetupHello Traders!
BCH price is in a wide trading range of $496 - $726
The market correction opens good opportunities for medium-term purchases.
Buying can be considered in the range of $424 - $496
Stop-loss under the price level of $366
Objectives of purchases on price levels:
$726
$878
$1027
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
BCHUSD H16: +50% gains BULLS THE BEST level TO BUY/HOLD(NEW)Why get subbed to me on Tradingview?
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BCHUSD H16: +50% gains BULLS THE BEST level TO BUY/HOLD(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: BCHUSD 16hour/candle chart review
::: range locked price action
::: expecting pullback/correction soon
::: updated/revised outlook
::: setup still valid as of RIGHT NOW
::: chart is LOG SCALE
::: get ready to BUY LOW later
::: pullback/soon CORRECTION MODE
::: BUY LOW near 405 USD S/R level
::: entry - early October 2021
::: for now expect PULLBACK/CORRECTION MODE
::: will last 1-2 weeks
::: up to 50% gains possible later
::: short-term pullback/correction
::: re-test of range lows is likely
::: before uptrend can resume later
::: SPECULATIVE SETUP
::: do your own due dill
::: and use proper risk management
::: TP bulls is +50% gains
::: details: see chart
::: FINAL TP is +50% gains USD
::: recommended strategy: BUY/HOLD after pullback
::: TP BULLS +50% gains 600/610 USD
::: SWING TRADE: BUY/HOLD IT
::: bull run not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/50% gains
::: Sentiment short-term: PULLBACK/MODE
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
BCH Looking To Threaten the Bull Trend On The New WeekPrice is going to close below the 21 week moving average which will likely be followed up by a test of 461 and if that doesn't hold we can see price go much much lower.
The MACD is also crossing bearishly which leads me to believe even more that the bearish scenario will play out.
BCH H&S on Weekly ChartGood evening,
1) BCH is forming a gorgeous H&S. I cannot say that it is a complete pattern, but the way the price has been moving I can only think of a H&S.
2) BCH has been trading at a trend line that was established in December of 2018 and the price has not gone below that trend line since then, but if this bearish H&S pattern completes, then we can also expect the price to go below the trend line, which my opinion is a strong evidence of a bear market, even though BCH has not experienced a proper bull market as everyone would have liked.
3) I do not want to lose hope on BCH as a long term investment, even though it has underperformed compared to many other cryptocurrencies. The reason for not losing hope on this digital asset is that it has formed a very pretty cup indicating a bottom, but I don’t believe that the top is in for that cup, but it will indeed take time for the price to break its ATH if we enter a bear market soon. Who knows…maybe we are in a bear market right now.
BitcoinCash Expected to Rally to 680Trend Analysis
The main view of this trade idea is on the 15-Min Chart. The cryptocurrency BitcoinCash (BCH) appears to be in an ascending triangle setup with resistance around the 642.75 price level. BCH held support around the 600 price level and have been making some higher lows over the course of the setup. Expectations are for a breakout from the 642.75 resistance level with a target around 680. Failure of this pattern will be seen with a decline to 600.
Technical Indicators
BCH appears to be in an uptrend with the price trading above the short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The short term MA has crossed above both the medium and long term MAs. The medium term MA has also crossed above the long term MA. These are bullish signs for the cryptocurrency. Also the RSI is above 50 and there has been a positive crossover on the KST.
Recommendation
The recommendation will be to go long at market, with a stop loss at 600 and a target of 680. This produces a risk/reward ratio of 1.13.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. Currently I have exposure to BCH.