So yesterday was totally wrong, instead of going back and forth, the price directly breakthrough to the upside after hitting 435 (before this position has supported price many times) . No more pullbacks. Now the chart shows double bottoms usually a trend reversal formation,(if look back a little bit, can be seen as three bottoms, the price formed three valleys,...
looks like the uptrend has finished because it has breakout the previous swing level. Though trade on 5 mins timeframe, the double bottom is bringing a bounce back. This reversal shouldn't come above the last high, so it will confirm the change to the downtrend. When there's an impulsive move to the downside which crosses down 47,990, the pullback would be a good...
feels like another correcting is happening and the price will go back to 418. Price's range of fluctuation is 418-445. Lucky there's a midpoint at 432. It might not be able to go back within the day so tend to think it will hit the midpoint then back and forth for a while. When looking at the smaller timeframe like 5mins, the situation isn't very positive. Since...
with 15 mins chart creating higher lows, the price is pushing up to the resistance level and narrowing the waving range. Seems the bulls have gathered enough power to conquer it. Would it still be so hard to stand above and crush back? below the short-term support 440. It might have the chance to try one more time. with a 1-hour chart, 3 bullish candles are...
don't have too much to say. 15mins and 30 mins look like an uptrend channel. For the long-term view, the price has been supported at around 418 for 5 times:6th, 13th,15th,17th, and 20th. It is still under a consolidation, We'd probably see a breakthrough soon, at least going back to 500 if it can stand above 450.
We can spot there are three price push-ups starting with 17th Dec afternoon. The first two times can be seen as a temporary double bottom. In terms of each time's shaking fall, it's likely the whale is absorbing the chips. Now the support is still in the previous midpoints(430) meanwhile formed two hammers when it is hit. The next rise should be cross the...
The two grey lines are the midpoints of the two ranges respectively. leading the new waving range to 430-453. The recent market has been trickled persistently lower, without the churning volatility. This also shows that the previous soaring has been taken back almost 80%. Though there does appear some supports at the midpoint, the volume is not good. It’s more of...
The market has bottom out. Now the confidence has got back a little bit. Next target 467 or it would have another deep dive? For now it more likely to have a period of consolidation again, so the price fluctuation might not be very volatile. Potential range 440~453. If BTC do not have very good news then BCH's whale still unwilling to push the price up I...
There are three different range these days(three rectangle in the chart) . After the plunge BCH formed a consolidation then tried to breakthrough the upper resistance but failed, a few times. Now if we observe carefully we can spot there's a midpoint between the recently low and the resistance: roughly 419-440. and also by connecting the low points (uptrend line),...
There's a downtrend triangle that appeared after the dump, and now the price has breakthrough to the upside. Since the previous support now has become the resistance we believe the next target would be around 440. But more likely the bears wouldn't give this chance to the bulls so 436 is likely to be a potential sell point for a short-period position. We can also...
447.7 sell/444 sell/ 449.5 stop-loss Previous day P/L: 0 Price has been waving from 466~440 since 09 Dec, For now, the midpoint is at 453 and the depressure from MA20+MA50 is near the midpoint. Bulls are struggling to hold it back but the buying power didn't show very strong. There tends to be another breakdown to even lower than the previous low which happened at...
10th Dec Market analysis 452.7 buy/466 sell/ 446 stop-loss Previous day P/L: -3.9 We have two hammers that stopped the previous dump, and a big bullish candle covered most of the decline. Price is moving around the upper band of the downtrend channel and it also happens to be a resistance level. If we change the timeframe to 1 hour, it tends to look like...
9th Dec Market analysis 465.5 buy/476 sell/ 461.6 stop-loss Now the BCH was at the previous support line and keep trying to breakdown to the downside. Bullish power is not very strong for now as the market emotions are also relatively passive. 466 would be a short-term key point as it was the middle line of the fluctuation range from 4th Dec to 9th Dec.