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BCHUSD Single Collateral Perpetual Futures ContractBCHUSD Single Collateral Perpetual Futures ContractBCHUSD Single Collateral Perpetual Futures Contract

BCHUSD Single Collateral Perpetual Futures Contract

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BCHUSD.P trade ideas

Bitcoin Cash Surges 12%, Analysts Forecast an Additional 25% Bitcoin Cash Surges 12%, Analysts Forecast an Additional 25% Gain The social metrics like social dominance and volume curve were headed upwards suggesting an increased user engagement. Despite a 12% jump in the BCH price, the analysts anticipate a 25% gain before heading for a correction. Bitcoin Cash price has been on a gaining streak for the fourth consecutive session. The bulls domination along with a optimism in the broader markets triggered a breakout of an interesting pattern after which BCH price gained nearly 7.08% today. At the time of writing, Bitcoin Cash was exchanging hands close to $445.6 recording an impressive intraday addition of nearly 7.08% and over 12% in the last couple of sessions. Despite a strong performance, few analysts are assuming the gains to compound by 25% more. Moreover, the recent price rise is supported by few on-chain metrics like social development and social volume. Let's analyze the metrics in correlation with the BCH price. Social Metrics Curve Highlights Increased User Engagement Bitcoin Cash (BCH) is a peer-to-peer electronic cash system designed to be a reliable global currency. It offers fast transactions, minimal fees, enhanced privacy, and larger block sizes. As a decentralized and permissionless cryptocurrency, Bitcoin Cash operates without the need for trusted third parties. Moreover, As per the data obtained from an on-chain analytics website app.santiment.net, the analysts have noted a positive development in on-chain metrics, social dominance and social volume. As per the analysts, the social dominance and social volume curve witnessed a healthy growth and were headed on the higher side, indicating the increased user engagement. The social dominance and social volume reflect the engagement of the social user which may create a demand. Furthermore, the transaction volume has grown by 55.7% a day indicating an increased demand. The transaction volume at 5.80% highlights low volatility. BCH ranks 14th in the cryptoverse with a live market capitalization of $8.8 Billion. The Daily Chart Highlights Breakout Of An Inverted Head & Shoulders Pattern. The price action analysis highlights a breakout of an inverted head and shoulders pattern in the recent sessions. The breakout marked the end of a correction phase as the price surpassed the key exponential moving average of 50 and 200 days. On the higher side, BCH price has surged nearly 12% above the neckline of the patter and is poised to gain nearly 25% more as per the analysts. As per the prediction the price may rise to $548 before heading for another correction. Also, if the price fails to resume higher and suffers below the neckline of the inverted head and shoulders pattern at $394, it may invalidate a bullish reversal. The price may then slump to test $350 and $300 levels. At the time of writing, the RSI line was placed close to 65 points and that of the 14 day SMA line was placed at 52.9 points. Both the RSI and SMA line were placed above the mean line highlighting an optimism among the investors. The technical indicators are leaving a positive note on a combined analysis.
CRYPTO:BCHUSDLong
by Ritika_TCR
Decoding Technical Perspective of BCH Daily Chart!In the Day frame, by March 3rd, the price breached the $320 resistance level and pushed out of the range towards the peak of $689.27, in which the BCH price was trading earlier between $90 to $300 for more than 626 days. Due to the instability at a peak of $689.27, BCH plunged amid the bears' dominance. The long-term trendline proved too strong resistance, which restricted the price to the $422.34 mark. By June 18th, 2024, BCH had decreased as low as $380, around which it hovered for a couple of days. Thereon, By July 1st, 2024, the notice of the Mt Gox exchange further hurt the price, and by July 5th, the price plunged further to $290. At press time, BCH was near the previous long-term range's resistance that turned into a support level that buyers are trying hard to sustain. In the last couple of days, the price surged almost 25%, which signified bullish control slowly developing from the crucial support zone near $300. If the buyers fail to surpass the resistance of $422.34, BCH would be back towards the support of $300, and breaching this would lead back in the range of $90 to $300. This is a range where it has spent a long time in the past, and in this range, the next support could be at $249.01, followed by $213.01. While in case of a rebound, the resistance that would pose interruptions is around $422.34 and $522.37. The Indicators are bullish due to the bullish presence displayed in price, where MACD shows a bullish cross in a bearish vicinity, and RSI jumped from oversold after cutting 14-SMA from below, which, as of press time, flashed at 50.98.
COINBASE:BCHUSDLong
by Sam_TCR
BCH trades at the resistance that turned to supportOn the daily chart, the price shows that the price has traded in a range of $90 to $300 for more than 626 days. On March 3rd, the price breached the $320 supply level and moved out of the range towards the peak of $689 by forming a proper pullback by April 6th. Thereon, due to instability in price, the BCH started to dip due to bears' control and instability at that level, as the presence of long-term trendline resistance was a string, which pushed it below $422 support. After reaching the support, the price started consolidating in a range and broke further below by June 18th, 2024. After a constant consumption at $380 for a few days, by July 1st, 2024, the notice of Mt Gox exchange led its price to slide further below, in the consecutive response with BTC. At press time, the BCH trades at the resistance that turned to support, where buyers are trying hard to sustain, but if it fails, the BCH would be back in the range of $90 to $300, which it spent a lot of time in history. Therefore, based on the bearish trend daily, if this $315 support gets breached massively, the next support could be at $249, a $213. While, in case of resurgence, the resistance would pose interruptions around $362 and $422. The Indicators are bearish, where MACD shows a bearish cross, and RSI at 26 is oversold.
COINBASE:BCHUSDShort
by Sam_TCR
Bitcoin Cash: Path to Recovery or Persistent Downtrend?Bitcoin Cash: Path to Recovery or Persistent Downtrend? Bitcoin Cash loomed 4.83% in a week, but analysts expect bulls to take over soon. The low volatility shows stability however decreased volume inflow has been a concern for the bulls. The recent market downturn has impacted many altcoins, including Bitcoin Cash, a hard fork of Bitcoin. The crypto experienced a significant drop in value in April, just before its halving event, from a high of $700 and is presently valued at $430. Despite this, there's a sense of optimism among investors for a potential rebound. The daily trading chart reveals a notable pattern; a breakout from this pattern could potentially lead to profits that would reassure investors. Let's delve into whether this variant of Bitcoin can deliver substantial returns to its investors or if they should consider switching to a more robust-performing asset. The Low Volume Inflow Has Been A Concern For Investors Bitcoin Cash seemed to be finding stability at its current market value, with recent sessions showing reduced volatility. Yet, the bulls are troubled by a decline in trading volume. The intraday trading volume was reported at $227.156 million, a 21.20% decrease compared to the previous day's volume. This downward trend in volume suggests waning investor interest, which could be detrimental to the cryptocurrency's prospects. To reverse the trend, the bulls need to inject additional volume to overpower the bearish momentum. Will The Correction Continue? The daily chart highlights that the price was hovering within a descending parallel channel, with the channel's edges acting as its resistance and support levels. Currently, the cryptocurrency is likely to continue its corrective phase, potentially trading at lower volumes as long as it remains within the channel. A breakout or breakdown from this pattern could signal a definitive trend direction for the cryptocurrency. From a technical point of view, the BCH crypto is oscillating between the 50-day and 200-day Exponential Moving Averages (EMAs), which are positioned above and below, respectively. These EMAs could provide dynamic support and resistance. The cryptocurrency's future trend could be determined by a breakout on either side of these EMAs. Conclusion. Bitcoin Cash (BCH), a hard Fork of Bitcoin, has been hit by the market's downturn, falling from $700 to $430. Despite the drop, investors remain hopeful for a rebound. The drop in volatility shows crypto stabilizing at the CMP. However, significant drop in the volume inflow indicates the losing interest of the Investors. The daily chart seems to be locked in a declining channel pattern as of now. The outcome of this phase is uncertain, with potential for either a trend reversal or continued decline, hinging on a breakout from the channel. Bitcoin Cash's fate also lies between the 50-day and 200-day EMAs, which could act as pivotal points for its price trajectory.
CRYPTO:BCHUSD
by Ritika_TCR
💡Don't miss the great buy opportunity in BCHUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (328.0). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BCHUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 70. Take Profits: TP1= @ 347.2 TP2= @ 360.8 TP3= @ 373.1 TP4= @ 384.2 TP5= @ 396.5 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
COINBASE:BCHUSDLong
by ForecastCity_ME
2
BCHUSD Coinbase - Looking for EntryCOINBASE:BCHUSD has had a lovely history of long up and down trends. Historically they have lasted near half a year at a time in the past. We are back to a downtrend as the price has fallen below the 200 day EMA, Supertrend is red and the Heikin Ashi candles all red. Like most of the larger coins we seem to be at a consolidation period of low volume with horizontal trades going on. It looks like a possible reversal for BCH but we will have more information in the next few days on the long term effects here. It honestly could go either way for this coin but I think we will see a reversal soon, but not enough to see an overall long uptrend. The EMA is below a strong line of resistance and the Supertrend indicator is falling below it to.
COINBASE:BCHUSD
by UnknownUnicorn2091450
BCH making bullish strong candle after breaking the triangle patBitcoin cash (BCH) gave a positive breakout after breaching its 20-Day Moving Averages of $430. After a sharp correction from the higher level of $630 formed a descending triangle pattern and slipped below the 20-Day Moving Averages (DMA). However, it successfully holds the major moving averages of $100 and 200-DMA. Support on the chart is situated at $375 and $340. Meanwhile, on the higher side, the resistance is placed at $480 and $540. Likewise, the strong hurdle is at $630, which can be acting in upcoming trading sessions. The levels can be expected after clearing the resistances are $750 and $880 positions. themarketperiodical.com
KRAKEN:BCHUSDLong
by tcr_thecoinrepublic