$415 Bitcoin Cash BCH Technical Analysis (8 July 2019)

$415 Bitcoin Cash BCH Technical Analysis (8 July 2019)



welcome back histories of July 2 0 1 9 Monday the first day of the week so we have just done Bitcoin a theorem X or peak like coin and now we're gonna move on to number 5 Bitcoin cash so Bitcoin cash what's up so far because cash means BTC things are still not looking good we had a clear mountain range here we had two targets we already touched both of our targets so congratulations to anyone and everyone who took the trait for become cash against BTC right now things are still looking very bearish as you can see the price has been coming down you know there was a slight bounce I've been coming down there was a bounce but then it continued is down you know move bounce and now we are continuing lower however things are pretty oversold on the MACD and he's heading towards oversold territory again on the RSI I think that we could bounce I mean we could go down a little bit more but then like I was saying a bounce bounce bounce is in the castle for Bitcoin cash definitely is in in the cuts however we can't say for sure when it is going to come but then this feels like a set up for a double bullish divergence if the price goes low to eat up all this top sell orders here for Bitcoin cash then very likely we will see a double bullish divergence on the MACD double bullish divergence on the RSI so like we were saying this I think this is a setup for a double bullish divergence I could be wrong we may not form a double bullish divergence but but yeah it's things are very oversold and like I was saying a bounce should be in the cuts for Bitcoin cash against BTC however things can stay over so for a very long time so yeah anyway this is a very noisy area so we are right now at this noisy area we already sized the area so things are kind of slowing down a slow crawl – what's the downside slow moving so it's to be expected because it's it's a noisy area however there's also a possibility that we can catch may punch it through the noisy area you may just you might just see a huge drop here although that is unlikely in my opinion yeah so it's hard to tell it's hard to tell but based on this mountain range there is a mountain range here we're just gonna zoom in a little bit see more clearly mmm yes this is a mountain range it's like a mountain one but this is not a high quality mountain range in my opinion so that's what like I was saying this could be a setup for a double bullish divergence anyway I wouldn't put in any trade no because this is not a clear set up yeah this is a high quality mountain range because you know you keep seeing a series of lower high low or high low or high palm eventually it goes and then you keep testing the support test test test test test boom it breaks and then we were below the skinny pink line so it feels like you know all the stars were actually aligned and then boom it goes down right now it could still go over like I was saying yeah but we're not gonna be doing anything we're gonna be waiting for the Bitcoin cash wheels to finish doing a team because things are very over so you can put in a shot here man I wouldn't recommend putting a shot here because it is in oversold territory and things might just suddenly go boom just like that so it's very high risk and as traders we are risk averse we do not take unnecessary risks if we think that this is a high risk straight we don't we don't do it you don't take it yeah so we only hunt for high-quality chart patterns to trip off off all right we're gonna vote to be going cash against USD Bobby for that biscuit this video a like if you enjoyed it subscribe to the channel and let me know what you think about Bitcoin cash in the comments below if you have any thoughts opinion questions feel free to ask or if you have any news piece let us know we love newsom your comment that you share would be of great help to anyone and everyone who sees it it doesn't really have to be news but it can be of your opinion of where things are going and we appreciate your opinion if you have any you know opinion and yeah we appreciate high-quality opinions we're gonna take a look at last week's comments for Bitcoin cash Dede what's up Dee Dee if bch stays above 400 and bounces with volume then there's a chance for it to hit 6 500 before correcting sure sure the key word is with volume then there must be volume coming in in my opinion if there is no volume coming in we will be going lower Auto BCC could drag the Makah lower that's right big VDC is the king it's like coca-cola it is always the king you may have dr. pepper you may have Pepsi coca-cola will always be king if it is it consolidates for a while then BCH could bounce else the Rockies to the downside strictly monitor what BTC does exactly did it you are absolutely correct PCI should be the only cryptocurrency anyway we're gonna move on to Bitcoin cash against USD like I was saying this is a mountain range that has been established it's an established mountain range yeah keeps getting your established and this is looking like a right shoulder to me this is a right shoulder boys it looks like a right shoulder boys yeah like I was saying the volume is huge to us the downside if you look over here the volume is so big you see a series of red candles pushing it down yes a bounce camp any bounce back up again however I think that the direction is to us the downside we have a target at 245 we have three targets actually Turner at forty five two hundred and sixty three and two to two so we are expecting Bitcoin cash to go lower we could be wrong it will not bother me not go lower but but I think that yeah I think it's actually quite oversold so it is actually a highly straight in my opinion if we were to take a trip let's look at the daily let's see how it goes yeah daily we are ready a both we've really punched through the skinny pink line we make all over but I think we may only go over to hit target number one yeah I think if the things stay bullish for the like coin reward block reward having for the entire cryptocurrency sphere we make her a little bit but probably only 245 and then we may go back up we may reverse back up in my opinion this could happen yeah again although all the hope here there's a triple bearish divergence lower high on the MACD lower high on the MACD series of lower high on the RSI lower higher on our site but it's a high high on the price higher high on that price so things could actually you know if it does break the pink line the skinny pink line then we are gonna hit all targets 1 2 & 3 but if there is a bounce after hitting target number one then very likely we will continue higher higher in a sense that um let me see where can we go anyway this is a very noisy area and we are actually here at a noisy area we are hovering around the noisy area whether if you're gonna form you know discretion you become a right shoulder sort of you know then this thing could become a hit and then if we could just stay around this area for a little while longer then we could see a right shoulder and we could punch much much higher so like I'm saying like I was saying things actually crawling they're crawling up and if it's not a good sign we are ready a clear established support line and I really think that we are going down I really hope I'm wrong um we may just go down a little bit hitting target number one and reverse back up hopefully but then you know things are very oversold not very but pretty oversold on the mag deep so yeah we might just take a trip to a ste down sight towards target number one very likely to trigger at 45 dollars yeah but if BTC does go up then I think Bitcoin cash also I mean we'll also follow BTC towards the upside alright I think I might want to take a shot for Bitcoin cash I think so it looks like a quality quality shot for target number one I think yeah we may reach target number one hmm alright I guess they see from my Bitcoin cache technical analysis don't do anything I wouldn't do stay safe and if you do decide to take a shot please remember to set your stop losses all right we want to be out when you're wrong you don't want to let pride be your downfall so yeah I guess I see I am busy is technical and you see analysis thank you very much for watching I hope you enjoyed it I shall see you in the next video

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About the Author: Maximilian Kuhn

3 Comments

  1. Do you think BCH will ever be as volatile as it used to be? It’s my favorite trader, because of volatility but, something has changed.

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