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BCHUSD.P trade ideas
BCH Ready To Drive Beyond $300!Recent Performance: Bitcoin Cash (BCH) exhibits strong bullish momentum, with a notable 10% surge challenging the $280 resistance.
Critical Levels: Breaking past the 78.60% Fibonacci retracement level, BCH shows potential for further gains.
Upside Potential: Surpassing $300 could trigger an uptrend towards the $350 mark, showcasing significant bullish potential.
Market Dynamics: Despite Bitcoin's mixed performance, BCH carves its path, underpinned by positive market sentiment and increased buying activity.
Technical Analysis:
Triangle Breakout: BCH's bullish breakout from a symmetrical triangle pattern in the daily chart indicates strong momentum.
Post-Retest Reversal: A successful post-retest reversal after crossing $250 adds to the bullish narrative.
Resistance Challenge: Current resistance at the ascending trendline and the 78.60% Fibonacci level near $280.
Current Trading Price: BCH is trading at $278, showing a significant 9.59% increase within a day, forming a bullish engulfing candle.
Technical Indicators:
EMA: The 50-day and 200-day EMAs exhibit a positive trend, reinforcing the bullish outlook.
RSI: The Relative Strength Index (RSI) is in the overbought zone, indicating strong buying momentum.
BCH's Relation to Bitcoin: Potential approval of a Bitcoin Spot ETF could positively impact BCH, given its close correlation with Bitcoin.
Downside Risks: While the outlook is bullish, a trend reversal could see BCH retreating to lower support levels, possibly around $260.
Conclusion: BCH's current trajectory, coupled with broader market sentiments, positions it for potential gains, aiming for $350 in the near future.
Caption for Promoting BCH Price
BCHUSD Strong bullish in bearish marketWhile BTC struggle with bearish wave, BCH move in a stong bullish with expanding channel up.
Its little bit late to follow bullish at BCH,
the best option we have is to wait for small pullback at fibonacci point or wait at support if you aim for low risk.
Target for BCH at channel up resistance or at previous high.
Maximum target for BCH at $423 as fibonacci projection.
Bullish Trajectory in BCH Price Targets $350Recent Surge: BCH price mirrors Bitcoin's uptick, successfully breaching the $260 barrier, signaling a robust overnight rally.
Bullish Forecast: The price trajectory of Bitcoin Cash is poised for a significant rally, potentially surpassing the $300 mark.
Fibonacci Levels Indicate Upswing: If BCH maintains its breakout momentum above $260, it could ascend towards the $350 level, aligning with Fibonacci retracement levels.
Yearly Performance: Outshining Bitcoin's 161% YTD rise, Bitcoin Cash boasts a commendable 185% increase this year, fueling positive market sentiments.
Technical Breakout: BCH's jump by 15% signals a triangle breakout, indicating a strong bullish phase. The asset has already crossed the 38.20% Fibonacci retracement level, suggesting more room for growth.
Current Trading Scenario: BCH is trading at $274.01, with an intraday gain of 3.90%, extending its impressive overnight rally.
Technical Indicators:
DMI Indicator: Showcases a bullish crossover, implying an increasing trend momentum.
Bollinger Bands: Expansion of the upper band indicates an emerging bullish phase.
Potential ETF Impact: Market excitement around a potential Bitcoin Spot ETF is likely to benefit BCH, given its close relationship with Bitcoin.
Resistance & Support Levels: BCH aims to break past $300, targeting $350. However, a trend reversal could see it retesting the $250 support level.
BCH major UPDATE ( YEARLY closure)BCH has already presented itself pretty well for the last couple of months. A closure below 215$ will most likely make price drop towards 150$ before even thinking of going back up again. A break above 245$ can push price towards 285$-295$, but only a full break above of that area can confirm a new bullish impulse towards 400$.
BCH getting back in the mixBCHUSD reaching and getting rejected from long term price level. Its forming an interesting treadline where sell offs and getting quickly bought up. Traders must be positioning themselves for more news on the BTC spot ETF. All good news for BTC usually sees a spike in price for the BTC hard forks. Worth keeping an eye on for possible trade over the next few weeks. Not financial advise so its not
Bitcoin Cash Bitcoin Cash price rallied over 10% and broke the $245 resistance. BCH is now facing strong resistance near the $255 zone.
Bitcoin cash price started a fresh surge above the $232 resistance.
The price is trading above $245 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair (data feed from Kraken).
The pair could continue to move up if it clears the $255 resistance zone.
Bitcoin Cash Price Rallies Above $250
After forming a base above the $220 level, Bitcoin Cash price started a steady increase. It broke the $225 resistance to enter a positive zone, like Bitcoin and Ethereum.
There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair. There was a strong increase above the $232 and $245 resistance levels. The price is up over 10% and it is now testing the $255 resistance.
BCH is now showing positive signs above $245 and the 100 simple moving average (4 hours). It is also above the 23.6% Fib retracement level of the upward move from the $219 swing low to the $255 high.
Bitcoin Cash Looks To Be Forming A Bullish Triangle PatternBitcoin Cash with ticker BCHUSD made a strong recovery back in July which might be wave III because a drop from $330 is overlapping, thus it can be a correction, so ideally that's a wave IV retracement, meaning that uptrend can still show up for wave V. But, maybe we will have to wait on a bullish breakout a bit longer as current price action since July can be an ongoing A-B-C-D-E triangle.
Can BCH Price Cross $250 For A Spike to $300? Influence of Bitcoin's Rally: BCH (Bitcoin Cash) price is positively influenced by Bitcoin surpassing the $40K mark.
Potential Breakout Beyond $250: There's potential for a breakout rally in BCH price beyond $250.
Target of $300 by End of 2023: If BCH exceeds $250, it could potentially reach $300 before the year's end.
Buyer's Interest in Markets: The altcoin market, including BCH, is gaining momentum due to increased buyer interest.
Symmetrical Triangle Breakout: BCH is showing signs of a symmetrical triangle breakout in the daily chart.
Year-to-Date Growth of 156%: BCH has experienced substantial growth this year, contributing to its bullish outlook.
Current Trading Price: BCH is trading at $249.19, following a 12.32% jump with an intraday growth of 8.27%.
Psychological Barrier at $250: The $250 mark is a crucial psychological barrier for BCH's price trend.
Technical Indicators - RSI and MACD: The RSI is in the overbought territory, and a bullish crossover in the MACD indicates a potential trend reversal.
Impact of Bitcoin Spot ETF Approval: The potential approval of a Bitcoin Spot ETF could further boost BCH’s price.
Downside Risk to $200: A reversal in BCH's price could lead to a drop to around $200.
BCHUSDT Forms Prominent Triangle on Daily ChartCurrently Bitcoin Cash KRAKEN:BCHUSDT market is undergoing consolidation near the crucial support line of the triangle, setting the stage for potential movement in the coming days.
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Technical Insights:
Pattern Formation: The development of a large triangle formation suggests a period of indecision and potential market coiling.
Support Consolidation: The present consolidation near the support line within the triangle signifies a critical juncture for market participants.
Anticipated Rebound: The upcoming days could unveil a noteworthy rebound to the upside, fueled by the dynamics of the triangle pattern.
Key Levels Within the Triangle:
Support Zone: The support line within the triangle is prominently situated at $222, acting as a crucial level for market stability.
Resistance Zone: Positioned at $247, the resistance within the triangle marks a pivotal barrier that the market must contend with.
Strategic Considerations:
Observing the Triangle: Keep a vigilant eye on the ongoing consolidation within the triangle as it often precedes significant price movements.
Reversal Potential: The bounce from the support line presents an opportunity for a bullish reversal, with the $247 resistance level serving as a target.
Stay tuned for potential breakout or breakdown scenarios. The $222 support and $247 resistance levels will likely play pivotal roles in determining the next phase of Bitcoin Cash's price action.
Happy trading!
Bitcoin Cash ($BCH) Next Growth Challenge Bitcoin Cash (BCH)
The performance of Bitcoin Cash (BCH) has been somewhat restrained since Bitcoin's rise began in mid-October. The asset only grew by about 25% over the month, but this growth has already been negated.
Currently, BCH is on a downward trend, trading within the support zone of $206-$215. This is the same range from which BCH started its upward journey on October 16. If Bitcoin continues its correction, BCH might set new local lows. The first target for sellers would be the psychological level of $200.
For BCH to start an upward movement, buyers need to show strength and break through the resistance zone between $235-$245 with significant trading volume. The next challenges for growth would be at the $250 level and then within the seller's range of $258-$270. Overall, in its current state, BCH doesn't seem to be an attractive option for spot buying, so it might be prudent to avoid long positions for now.
The Bitcoin Cash bull runBitcoin Cash began its bull run in mid-June following the pattern I had indicated in my previous analysis a year ago.
Long entry: 218 USD
Take profit: between 200 k / 1.2 million USD
This is my personal opinion and this is not a financial advice! Good trading!
BCH Long ideaBCH has been bouncing around this channel since mid August. It just bounced off the bottom of the channel and might be a good play here to hit the median and top of the channel.
I'd look to long until it hits that target area. If there's a close outside of this channel, it would invalidate this idea.
BCH Price Outperforms Bitcoin And Teases A 30% Jump!Strong Support at 50D EMA: Bitcoin Cash (BCH) finds solid support at the 50-day Exponential Moving Average (EMA), setting the stage for a potential reversal rally.
Ascending Triangle Formation: The BCH price chart shows an ascending triangle pattern, indicating a possible bullish breakout.
$300 Price Target: A successful bullish breakout could propel BCH to reach around $300.
Year-to-Date Growth Comparison: Bitcoin Cash has a Year-To-Date (YTD) growth of 145%, surpassing Bitcoin's 120% YTD growth.
Impact of Bitcoin Spot ETF: The anticipation of a Bitcoin Spot ETF approval could significantly influence BCH's price, with strong expectations of a bull run among Bitcoin Cash investors.
Consolidation Phase: Despite recent gains in BTC, BCH has been consolidating, indicating a period of accumulation and potential shakeout of holders.
Current Trading Position: BCH is trading at $237.44, with a 1.47% intraday increase, forming a bullish candle.
Technical Indicators Outlook:
RSI Indicator: Shows a bullish spike, hinting at a comeback phase for bulls.
EMA Trends: Both 50D and 200D EMAs exhibit a positive trend, reinforcing the bullish sentiment.
Potential for a $250 Breakout: BCH is on the verge of breaking the $250 mark, which could lead to a significant price surge.
Bitcoin's Influence: As a derivative of Bitcoin, BCH's price is closely tied to Bitcoin's performance, especially with the ETF approval on the horizon.
Downside Risk: A breakdown below the 50-day EMA could see BCH prices drop back to around $200.
BCHUSD 2h Getting weakLooks weak here.
Constantly getting rejected around 240
Need to see if OBV holds here
BCHUSD weak weeklyBCH is not having a great week compared to other coins
Weekly OBV is moving in a tight channel. Have to see if it holds and bounces on next touch of the lower trend line.
If it breaks might have to 220s
BCH [MAJOR-UPDATE]As long as price respects 220$, BCH should be able to retest 280$ easily, but only after price breaks above this level, we shall see price head towards 360$ and 450$ later on. On the other hand, if price breaks below 220-200$, there is a high probability that price will retest 150$ before any other major move.
BCHUSD Double fibonacciPrevious fibonacci hit 1.272 target at channel up resistance, and continue to perform another fibonacci pattern inside channel up pattern.
Right now BCHUSD at channel up support around 0.618.
Target bullish from this position at $280 (fibonacci 1.272) and maximum target at $293 (Fibonacci 1.618) or at channel up resistance.
If you have any question, do not hesitate to contact me
Your support at this analysis will also support BCHUSD to reach bullish target
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Will BCH Price Rise Above $255 To Reach $300?Failed Breakout: BCH price couldn't sustain above $255, leading to a slide.
Cup and Handle: A cup and handle pattern formation suggests a potential bullish reversal.
Dynamic Support: The 50-day EMA is acting as strong support, with prices above $225.
Market Recovery: As Bitcoin hits $35K, BCH looks to capitalize on market optimism.
Sideways Movement: Despite Uptober gains, BCH is moving laterally but with a bullish bias at the $225 level.
Ascending Triangle: The price action hints at an ascending triangle pattern, indicating a possible breakout.
Stochastic RSI: Shows a bullish turnaround, suggesting an upcoming challenge to the $255 resistance.
EMA Support: The 50-day and 200-day EMAs provide dynamic support, maintaining a positive trajectory.
Spot ETF Speculation: Anticipation of a Bitcoin Spot ETF could catalyze the BCH market.
Bullish Scenario: A breakout above $250 could propel BCH towards the $300 mark.
Bearish Scenario: A breakdown below the 50-day EMA could see prices falling to $200.
2023 Outlook: BCH price prediction remains optimistic for crossing $300 in 2023.
BCHUSD Nearing Breakout Of Ascending Triangle PatternBCHUSD / Bitcoin Cash about to breakout of this ascending triangle chart pattern. Higher lows are forming with multiple retests horizontal resistance line. This is bullish and expect a move higher as soon as it closes above the horizontal resistance line around $250.00
