Crypto Screener Forums Bitcoin Cash (BCH/BCC) Forecast – Technical Analysis Bitcoin Cash (BCH/BCC) Forecasts – December 2017

This topic contains 5 replies, has 3 voices, and was last updated by margincall margincall 1 year, 5 months ago.

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  • #1015
    admin
    admin
    Moderator

    This is the thread for analysis on the Bitcoin Cash (BCH) markets in the month of December 2017.

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  • #1136
    margincall
    margincall
    Keymaster

    Bitcoin Cash recovered swiftly after a savage correction vs the dollar.

    We can see a nice cup and handle formation on the 1hr candles and a nice little bull run is developing above the 200 sma.

    BCH forcast
    I expect some fomo to kick in if prices were to go over $3000 again.

    Short term support is at $2800 and resistance currently at $3000. If we go over $3000 and get some more momentum going there is a good chance that the market will test the previous ATH.

    Bitcoin Cash has been a very nice market to trade so far and we are long again with the hopes of some more gains against the dollar.

     

    #1111
    MrHanna
    MrHanna
    Moderator

    Bitcoin Cash treated us nicely this month with a nice x2 push from 1800 to 3600. After hitting a new ATH the market is currently correcting.

     
    bchusd forecast
     

    Not that I care much about fundamentals the fact that Coinbase added BCH is a pretty big deal, especially with Bitcoin half wounded.

    Back to the technicals we can see the sellers stepping in and $3000 has become our short term support.

    Long term the market is extremely bullish and I will wait for the trend to break before going short, but with that said it is always good to take profits and recover initial investments.

    I will see if $3000 holds as support before buying more BCH.

    #1091
    margincall
    margincall
    Keymaster

    Taking a quick look at the Bitcoin Cash markets vs the Dollar.

    After hitting a All Time High (ATH) of about $2100 the prices corrected down to about $1700 and as we can see the price consolidated nicely along the bottom trend line.

    BCHUSD forecast 17 December 2017

    Short term support is at $1600 – $1700 and resistance $1900 – $2100.

    In these situations I will look for a break to the top or the bottom of the triangle to signal my next move.

    Feel free to discuss any of my trade ideas with me in slack.

    #1054
    admin
    admin
    Moderator

    Having a look at the Bitcoin Cash markets for a quick update.

    bchbtc
    We can see that we dropped below our Long Term buying zone, this is no reason to panic.

    The RSI indicates oversold conditions on the shorter term and this should give us a good idea where the bulls are hiding. I have a feeling we will push back into the 0.1 zone when BTC decides to calm down.

    As always this is just my opinion and analysis on the markets, please do your own research before trading crypto.

    Taking short term look at BCH vs the USD.

    bchusd forecast

    Using the 1day candles we can get a better view of what is going on with the market. BCH is still in a strong uptrend from the $300 zone, but as we can see on the chart the sellers stepped in from about 1800 and we are testing 1300 as I write this report.

    Should 1300 fail, I see the next big support level around $1000

    This market is very bullish with great trading volume around the world, I expect buyers to step in should we dip to 1k so it could be wise to place some buy orders down the line.

    Please note this is all my opinion, do your own research before investing in Crypto!

    #1016
    MrHanna
    MrHanna
    Moderator

    Bitcoin Cash continued to surprise many this week as it kept on gaining value while it was predicted by the mainstream that we were on our way to sub $1k again.

    bchusd forecast

    Look towards 1640 to enter a breakout trade.

    Short term support is at 1480 and 1550, should these levels fail, be patient and pick some BCH up at lower prices.

    bchbtc forecast

    BCH is painting a nice little bull flag for me on the 1hr vs the Bitcoin market. This is a good place to get some BCH for the longer term vs BTC.

    My feeling here is BULLISH, my opinion only, please do your research before spending your cash on crypto!

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