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

This topic contains 5 replies, has 2 voices, and was last updated by admin admin 1 year, 3 months ago.

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  • #629
    margincall
    margincall
    Keymaster

    This is the thread for technical analysis on the Bitcoin Cash markets for the month of October.

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  • #800
    admin
    admin
    Moderator

    BitcoinCash has been performing well considering all the chaos in the markets recently. Gains are already good gains since the previous post on the 23rd of October and there seems to be a nice trend developing.

    We will wait and see how the market responds if Bitcoin takes another dip, $333 could signal a potential breakout on the BitconCash market.

    If you have any questions about any of our analysis be sure to join us on Slack. Safe trades.

    #773
    margincall
    margincall
    Keymaster

    Time to take a look at the Bitcoin Cash markets again as Bitcoin approaches the BTG hard fork. I bought some Bitcoin Cash at higher prices (long term), about $330 and I am looking to add more BCH to my long position. Please bear in mind that BCH is a relatively new market and should be viewed as a high risk trade.  With all that in mind here is the purely technical view.

    The BCH/BTC market has been falling since it hit a high of 0.48 btc in August. I would put support around 0.05 btc and if that level would fail we could see even lower prices vs Bitcoin.

    On the daily chart the MACD is indicating that we are in fact seeing more buyers than sellers at this point. Notice I marked in green the spike in volume around the same time. This could very well be smart money jumping into the market.

    We will see direction soon enough, maybe as soon as the 25th or 26th. I am looking to trade the breakout on this one. Keep an eye on 0.06 btc.

    Safe trades.

    • This reply was modified 1 year, 3 months ago by margincall margincall.
    #731
    margincall
    margincall
    Keymaster

    BCH broke downward and prices descended even lower like predicted in the previous post. There has been a lot of selling of Bitcoin Cash and prices could always go even lower than this.

    Looking at the technical side of things Woodies is suggesting that we are entering a bullish trend, if the market starts trading above 340 – 350 we should see some good gains on the bch/usd pair.

    Support is at 320 short term speaking, I am considering a long position above 350.

    #719
    margincall
    margincall
    Keymaster

    As we can see the Bitcoin Cash market is still downtrending, however buyers are stepping in and it seems like support is developing between 340 – 360. I am looking to buy more BCH at these levels if 340 does not get broken. Longer term this is a good buy zone, if 340 breaks to the downside we can expect even lower prices.

    #630
    margincall
    margincall
    Keymaster

    Bitcoin Cash is still downtrending against Bitcoin at the moment and we are keeping a close eye on the market for a potential breakout trade. At the moment the market is bearish.

    I am looking towards BCH/BCC as a possible hedge against Bitcoin in the future.

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