The legitimacy of BCHUSD is now very evident and it is starting to behave more like a solid contender and much less like another alt coin. There is significant interest in this asset now and the future looks very bullish. I have indicated a reasonable pathway to the next target top which in my opinion will be the 7000 range however noting that this coin still has...
If we see this move down to 1150 range it should open the door to the next move higher to the 31000 to 34000 area. A break lower would potentially see a move to the 7-8K range. I consider this much less likely as many buyers are waiting for a decent pullback to get back in and I think the 11 to 12 K range will be enough to attract considerable volume buyers.
Looks like BTCUSD is undergoing a pivotal change here and we will see the direction steepen yet again. This is another indicator that we are in the last stages of the blow off top rally and need to be cautious over the next weeks. I have a theory about the futures trading coming in on the 18th. I think they will push BTC up higher still and lure everyone in. Once...
Just an idea mind you but it seems like we've been really struggling here to get past this 450 500 area so it must be some type of major pivot and my feeling is that the vector will steepen here to the upside as indicated by the black arrows. Now we can really see the rally get underway. In my opinion.
Okay after going over (and over and over and over...lol) the BCHUSD chart last night -- because it literally has been driving me crazy that I can't make a decision on whether to be bullish or bearish -- I think I have finally cracked the code. I think what we are looking at here is a bullish flag formation and it is looking very similar to the ETHUSD flag...
Will we hit 30 000 this coming year? Will that be the top? Will there be a crash? I'm not going to make that prediction but it does look just a wee bit ... lol
Not sure I'm going to hang around for the DOW 60 000 party hats though... lol
I know some of you are getting a bit frustrated with my analysis on BCHUSD... So let me just say this then (and I'm trying not to be negative any more with a fresh perspective as sometime it helps to step back and look at the whole forest and not focus on one tree...): If BCHUSD can stay above its bullish base line indicated by the red trend line I will turn...
On this 12 hour chart we can see that the 50 MA is providing support. This will need to hold in my opinion as a breakdown here may not be recoverable. For me a break below the 50 MA would be a sell signal. Just me... just my opinion...
Less concerned about this channel now and I'm back to the wedge idea. It is looking bullish to me still. Anyway just an idea, please consider all sources of information and contribute to discussions. It makes us all better traders... The only opinion that is every wrong (in my opinion...lol) is one that is immutable but that could change... lol.
Just an idea. I do have an upside target for around 750 once the rally is completed. Please consider as much information as you can before making your trading decisions. Not saying I'm right or wrong... any idea is open to discussion and will change as the price structure changes. Much is dependent on the movements of BTC as we all know.
Looks like BCHUSD is moving in increasingly steeper channels, but don't take my word for it... check with the experts. There's lots of Pro traders out there who are offering their astute trading advice who you can pay to join their paid service who spend hours and hours studying every week... lol... Just one question I have is, if they are such good traders why do...
Is this real? Does it look like ETHUSD might be breaking out here? Oh wait no... no... false alarm... I know what it is... my trend line is in the wrong place again... yeah it should have been where that black line is... that is the trend line placement according to the expert... lol...
Yes there is a positive viewpoint to BCHUSD and I will admit it needed to be pointed out to me. This is entirely possible... Let keep this perspective in mind and look for signals that will validate this idea.
I'm watching the 2 hour/ 30 minute chart pair for a reversal pattern here and have provided an estimate of the pattern and time line to break out of the wedge formation. Naturally the success of the reversal will depend on the moves of the older cousin BTC. So any weakness in Bitcoin will have an effect on the timing of the rally. But if it can muster a break out...
BTCUSD has secured good support on the 200 MA here on the one hour chart. It has formed the necessary double bottom and will endeavor now to wrangle in the 20 and 50 MAs into a turning on the upside of the 200 MA. This wedge indicates the potential time line for the breakout. Indicators below also suggest a bullish reversal is underway.
Ok I'm sure by now we can say that we have a pre-established price point and it is okay for me to place my trend line on it but maybe I'm still too early and I'm really not sure how long I'm supposed to wait but one thing is certain... there will be some expert out there who will jump on my page to tell me I'm wrong. And usually these guys are just looking for...
BTCUSD should make a small bounce here but in my opinion the best opportunity for a rally will be at thee 8 K support line.