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Bitcoincash

Bitcoin Cash Channelling Higher Towards 650Disclaimer 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. At the time publishing, I have a position in Bitcoin Cash. Trend Analysis The main view of this trade idea is on the 2-Hour chart. The cryptocurrency is in an upward trend channel, with the lows around the 386 and 488 price levels. Also based on a market profile, Bitcoin Cash is currently trading within a confluence or support/resistance zone, which would indicate some level of consolidation and choppiness. Technical Indicators Bitcoin Cash recently crossed above its short (25-SMA), medium (75-SMA) and fractal moving averages as it held the lower support trend channel. The RSI also crossed around the same time that support was held. Moreover, the KST confirmed the bullish move with a positive crossover. Recommendation The recommendation will be to go long at market. At the time of publishing Bitcoin Cash is trading around 531.75. The medium-term target price is observed around the 650 price level, which is the bottom at the confluence zone while a stop loss should be set around the 490 price level. This produces a risk-reward ratio of 2.83.
KRAKEN:BCHUSDLong
by Ceddy86
1
The Crypto Cross BCHXBT in Upward Trend Channel on 2 Hour ChartDisclaimer 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. Trend Analysis The main view of this trade idea is on the 2-Hour chart. BCH/XBT had a low in late June 2021 at 0.01331. The crypto cross proceed to form an upward trend channel with what appears to be several support/resistance zones in the trend channel. The most prominent support/resistance zone is the 0.1472-0.1505 price region. Traders can anticipate some possible market entry at that support/resistance zone which is a bit below the middle of the upward trend channel. A resistance zone is perceived in the 0.154-0.156 price level, which is near the upper region of the upward trend channel. The support/resistance zones are supported by the market profile indicator. Technical Indicators The short (25-SMA), medium (75-SMA) and fractal moving averages are trading below BCH/XBT which exhibits positive price movements in the respective timeframe. At the point in publishing, the short (25-SMA) and medium (74-SMA) term moving averages are in the process of having a positive crossover, which is also a bullish sign. The KST is also confirming positive price movements with a bullish crossover. Also, the KST is channeling higher over the chart review period. RSI is trading above 50, which shows positive price momentum and approaching overbought levels. Recommendation Recommendation will be to go long around the 0.1494 price level with a stop loss at around 0.1436. Initial profit target level will be at 0.156. This produces a risk reward ratio of 1.18.
Long
by Ceddy86
Bitcoin Cash (BCH) - June 23Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (BCHUSD 1W Chart) If the price holds above the 517.20 point, it is expected to turn into an uptrend. (1D chart) We need to see if we can find support at 435.70 and move up to the 486.28-599.87 section. If it declines from the 343.10 point, there is a possibility of entering the mid- to long-term investment area, so careful trading is required. The price should remain in the range 599.87-827.06 to convert into an uptrend. However, it is recommended to check the BTC price movement as there is a possibility that the price may fluctuate depending on the movement of the BTC price. ------------------------------------- (BCHBTC 1W chart) You need to make sure you can sustain the price in the big box range 0.011530-0.048430. In order to turn into an uptrend, the price must rise above the 0.024777 point and hold the price. (1D chart) We should see support at the 0.013651 point and see if we can move towards the 0.014655-0.016063 section. If it continues to fall, it could touch the 0.011530 point, so you need to think about how to react. The price should remain in the 0.016063-0.018878 range to convert into an uptrend. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
KRAKEN:BCHUSD
by readCrypto
1