Forum Forums Bitcoin Cash (BCH/BCC) Forecast – Technical Analysis Bitcoin Cash (BCH/BCC) Price Analysis – November 2018

This topic contains 1 reply, has 1 voice, and was last updated by margincall margincall 1 week, 5 days ago.

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  • #18354
    margincall
    margincall
    Keymaster

    This is the thread for price analysis on the Bitcoin Cash markets in the month of November 2018.

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  • #18356
    margincall
    margincall
    Keymaster

    Bitcoin Cash started off the month of November with a bang, gaining more than 40% against Bitcoin and leaving many traders entering the market at higher levels. Taking a look at the 1 hour candle chart to get an idea of the shorter term situation.

    Bitcoin Cash pric analysis 8 November 2018

    I illustrated the possible bullish channel that the price action might take, however I will use it more as a guide to signal a bearish move. Unfortunately there is a divergence between the price action and the momentum, for those that follow my reports this will be nothing new, for those just tuning in, I like to use divergences as future indicators for price action.

    In this case the divergence is clearly a bearish one so I will look to the bottom of the channel for support, and should it fail, I would expect prices to test previous support levels. No trading method has a 100% success rate so should the divergence fail to play out I will look to the MA for a possible buy signal on the shorter term.

    Support is currently at 0.089 on the short term and resistance is at 0.0922 btc, in my opinion. Like I mentioned above, should this support zone fail, expect the correction to carry on into the lower price zones. Safe trades.

     

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