BCH is approaching a key area where we will find out if we're still continuing to be bearish or if we'll have some sort of reversal. The key are to focus on is the 450-500 area where we have a recent bottom.
If price action shows bullish pressure, we can find entry reasons such a break of the wedge pattern.
Our previous analysis played out for BCHUSDT PERFECTLY. We were expecting a rejection of the previous high after a breakout and we got a wick rejection! Price looks to be in a parallel bull flag for another move higher. Next area of interest is the 1836 level where price previously reacted. When we get there, we will reanalyse and update you all.
Bitcoin cash had multiple opportunities for us to get in. Simple corrections leading to breakouts! Ride this wave back to the previous top and even higher.
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Our first idea is that we think that Bitcoincash is going to rise towards 1,000 dollars. If it goes out of its channel, it can experience higher prices. (You can see the resistances on its path on the chart)
Our second idea is that it will start ranging and go out of that channel.
- BCHUSDT is printing a falling wedge pattern.
- This is reversal pattern.
- A bullish pattern to be precise.
- Price is testing the falling wedge's resistance.
- There's an upward breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance and the horizontal resistance level (R1).
- Horizontal resistance level...
With the Relative Strength Index (RSI) for Bitcoin Cash (BCHUSD) being so high right now, I believe that we could see a correction of around -35% for bitcoin cash soon when the price retests previous support/resistance levels.
However there could be a little room to see BCH rise in price in the next few days before that happens.
Ladies and Gents
After breaking out of a crucial zone which now has turned into support after retest, Bitcoin Cash will be trying to test the confluence of ATH and ascending trend line's top once again. The green trendlines now act as dynamic supports. We will update this pair in a couple of days to see if ATH breaks.
Have A NICE WEEKEND eveyone.
BCHUSDT has been printing an ascending channel since March.
Price Is testing the ascending channel support.
We could see a bounce off the channel support ⬆️ or a breakdown below the channel support ⬇️.
Possible price actions indicated on the chart.
Monfex is at your service and today we overview BCH/USD , LTC/USD , EOS/USD .
Good ascending movement we can see at this charts , but we need to note the bearish divergence by RSI by all of this cryptocurrencies.
Assume that they will reach their target blue line and test the ex-resistances.
Share your thoughts, ideas about the market under...
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Bitcoin Cash stays on the track towards the next target level of $350.
* We have seen a very positive dynamic of BCH price recently, while the coin has successfully made its way from $200 to $300, within a couple of weeks.
* As BCH network halvening approaches, many of market participants expect the price of BCH to surge,...
Hello, dear Traders!
Monfex is at your service and today we overview BCH/BTC.
After the price had plummeted to the support line, a triangle formed. Near the triangle's resistance we have MA50 , the breakdown of which will be a confirmation of a bullish scenario to the next green resistance zones.
But there can also be an another script. By breakout the support...
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Bitcoin Cash posts higher gains as it continues to spread adaption and development globally.
* Bitcoin Cash (BCH) adoption, development, and participation continue to expand as more and more positive BCH-related announcements grows up.
* In addition to that, there is currently over 18 million BCH coins in circulation...